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Another key measure of re-balancing is de-stocking. The property sector, an industry with a high inventory, saw over 602 million square meters of property unsold by the end of September, down by nearly 9 million square meters from a month earlier.

Apart from policies to reduce taxes and fees unveiled at the beginning of the year, China has announced more policies to support the real economy and technological innovation. [Photo/Agencies]

Another move toward "sustainable" growth is to expand into 200 Chinese cities and look for more overseas opportunities.

Another significant shift in the past year is that companies like Alibaba Group are building delivery centers in countries like Spain where they are now selling their products, showcasing the prowess of the country's e-commerce giants.

Apart from China's improved business environment dominated by the market economy, the nation's comprehensive advantages based on efficiency, labor quality, resources and digital and physical infrastructure will continue to help the nation attract investment from global companies over the long term. Backed by its institutional advantages, impressive mobilization ability and industrial system, the country's epidemic prevention and control work fully demonstrates China's strength in overcoming difficulties. This will play a key role in attracting foreign investment in the future.