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"China's economy has been transitioning from a phase of rapid growth to a stage of high-quality development," said the report delivered to the 19th Communist Party of China National Congress in October. "This is a pivotal stage for transforming our growth model, improving our economic structure, and fostering new drivers of growth."

"China's economic development has an obvious characteristic, which is mentioned in the report, the rise of city clusters," said Pei Changhong, former director of the Institute of Economics at the Chinese Academy of Social Sciences.

"China welcomes the US side to participate in cooperation within the framework of the Belt and Road Initiative," said the Chinese president, referring to the vision he proposed in 2013 of building an infrastructure and trade network connecting Asia with Europe and Africa along the ancient land and maritime Silk Road routes.

"Compared with Shanghai and Shenzhen, Beijing started earlier and developed faster," Nie said. "Beijing has been building innovation platforms and holding innovation contests to attract big companies and talent to participate, which have significantly raised investment efficiency."

"China's economic fundamentals are better than in 2015 and 2016 and the yuan has got rid of unilateral fluctuations," said Dai.