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"China has a rich pedigree of bringing innovations to the world. It has also established itself as the global manufacturing center, with an in-built ambition to be the world leader in many technological breakthroughs," said New.

"China is not in its bones a nation state, but a civilization state. China has always had to accept a great deal of diversity across the country. Nation states such as in the West, where there is much greater homogeneity, would not be able to tolerate that difference," he said.

"China is a country vast in size and with diversified demands, still industrializing and urbanizing. There are a lot of resources and capacities that could be put to better uses," Li said.

"Cashmere from the goats here is pure white," Zhang said. "They boast great properties in terms of thickness and length, good enough to make high-quality clothes."

"China may only initiate major monetary stimulus in the event of a drastic exacerbation of the external environment or a considerable slowdown in economic growth," Tang said.