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"But the government needs to boost the private sector to ensure that the economy grows in a healthy way."

"China has never resorted to competitive devaluation," said Sheng, deputy head of Shanghai-based CEIBS Lujiazui Institute of International Finance. "The market plays the main role in determining the exchange rate of the RMB."

"China has become one of our most important markets around the world, and we always attach great importance to our development here," said Howard Ozawa, executive vice-president of Canon and the president and CEO of Canon China.

"China has recovered from the pandemic in an exceptional manner. We have seen the quick recovery of the Chinese economy and the construction industry that Caterpillar serves. In our segment, the Asia-Pacific region has remained largely positive in the third quarter, driven by the continued strong demand in China," said Chen Qihua, vice-president of China operations at Caterpillar.

"China made the historic decision 40 years ago to carry out reform and opening-up, which changed the course of China's future," Cui said.