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"Every year 2.8 million people in China die from cancer," said Bruno Strigini, chief executive officer of Novartis Oncology.

"Despite the supply-side structure reform (which leads to production capacity reduction), environmental protection measures (which cause factory closure and affect production) and rising financing costs (as a result of financial regulatory tightening), China's economy still rebounded which indicates that the current real economy is quite resilient," said Liu Dongliang, a senior analyst of the China Merchants Bank.

"Every strike of the hammer - which happens thousands of times - counts, especially when the tuning of the instruments has to be set at the later stage," Yan said. "It is crucial for the tone color and quality of the instruments.

"Experiences over the past 41 years [since reform and opening-up began] have clearly demonstrated that we need to be bold to initiate change, to adjust to changes and to manage short-term pain. ... Forty-one years of reform on the Chinese mainland and 16 years of the Mainland and Hong Kong Closer Economic Partnership Arrangement have plucked most of the low-hanging fruit," Leung said.

"Establishing their own wealth management subsidiaries is one of the steps taken by banks to make a transition in terms of asset management. What is more challenging for the reform is how the customers will react to the switch of wealth management products from the expected returns model to the net asset value model, which does not guarantee the return of principal and interest," he said.