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"Competition between domestic makers and their foreign rivals is going to become more intense in the coming future. Without comparative edges, foreign smartphone vendors are going to lose even more market share," said Roger Sheng, research director at consultancy Gartner Inc.

"Cooperation takes time. A good ground for cooperation is a level of transparency with the other companies and businesses," Honighaus said.

"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.

"Chinese airlines have spent a great amount of money recruiting foreign pilots but are also recruiting and training domestic pilots, so much so that they naturally feel that rather than spending millions of dollars with a flight school, in let's say Australia, or even the US, why not just buy that flight school or at least buy a controlling interest?" Jebely said.

"China's economy has benefitted considerably from the more domestically focused, investment-driven growth model after the 2008 global financial crisis, when many developed economies encountered weakened consumption growth resulting from the fallout of the crisis," said Sang Baichuan, director of the Institute of International Business at the University of International Business and Economics in Beijing.