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"Chinese brand's performance results from its less successful product development and, more importantly, their undue efforts to cut prices," said Fu Lianxue, a senior expert at the center, in an interview with China Economic Net.

"Chinese pharmaceutical companies lag behind multinationals in the chemical drugs sector, but it is a different story for biomedicine and innovative drugs R&D," Shi said.

"Cross-border e-commerce has made rapid and notable achievements since the pilot zones were established and has become a new area of growth for imports and exports," Li said. "We should facilitate domestic consumption and at the same time improve export quality in the global market."

"China's experiences will benefit other countries as well, as more countries see China as an example to emulate, a model of development that could mean moving from rags to riches within a generation," Hofman added.

"Compared with the traditional online travel agencies, vacation rental platforms perform two key functions. One, they help landlords reduce operational and maintenance costs and also offer various value-added services to customers. Two, the platforms use sophisticated systems to support the entire social credit system," said Yu Fengxia, deputy director of the Sharing Economy Research Center, which is part of the SIC.