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"Central SOEs are the backbones of the economy. We need to conduct in-depth analysis to find key drivers that contribute to the transition to profits and consolidate the upward momentum," Li said.

"Capacity is the foundation of output growth. As most of the advanced steel capacity built in the past years has already come into use, there will be little new capacity coming into operation in the future, which means less steel output," Chen said.

"Challenges still exist including changes in the external environment and corporate financing difficulties. However, these will not change the stable and positive trend, and financial risks are controllable as China's macro-control policies will gradually take effect," noted Zhang.

"By and large, Chinese regulators are pro-innovation," said Chen Guoli, a professor of strategy at the INSEAD business school in Singapore.

"China is in a very different place today than it was some decades ago and is now in a position of global leadership in the technology sector. That's at the core of China's growth model," said David Firestein, inaugural executive director of China Public Policy Center in the University of Texas at Austin.