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"China will develop a stronger multi-layered capital market, which includes large stock exchanges, regional equity markets, private funds and venture capital funds, to better support the development of innovative enterprises," he said while highlighting the importance of daring innovation in the banking, insurance and securities sectors.

"China's cross-border e-commerce is developing rapidly, and the logistics and freight transport system within the SCO countries has relatively improved, which in turn will boost economic and trade cooperation between China and SCO countries," said Lu Zhenwang, CEO of Shanghai-based Wanqing Consultancy.

"China's emphasis on robust policies for imported consumer goods has boosted confidence in the sector and stimulated consumers' appetite. At the same time, consumers' desire for diversified, personalized and quality goods is being increasingly satisfied and unlocked," said Zhang Tianbing, head of Deloitte Asia-Pacific consumer products and retail industry.

"China's trade deficit in tourism is a case in point, in which domestic tourism services do not satisfy consumer demand. By taking measures such as cross-regional coordination to strengthen infrastructure networks, the strong domestic demand for travel may transform into higher output for the tourism sector," Tang said.

"China, however, took a significant lead over India in the agricultural sector by efficient agriculture reforms, policies and technology. Strict rules, strong reforms, incentives and ambitious investments in R & D have helped China," the report said.