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"Everyone, government officials and businesspeople, understand that industry has to upgrade. If you don't upgrade, you will be expelled from the market. If you upgrade, it may bring some hurt. But, if you don't upgrade, the only question is whether you die early or die late."

"During the whole nation's fight against poverty, the targeted and intensive measures implemented across the nation have made a great difference," said Guo Lanfeng, director-general of the National Development and Reform Commission, at a forum focusing on poverty alleviation in Yan'an, Shaanxi province on Thursday.

"Domestic investors were excessively pessimistic last year. But on the other hand, overseas investors' interest in the A-share market has been on the rise. Although economic growth has slowed down, the country's economy remains elastic enough," Qi said.

"Even if it's teaching English overseas, it has a huge market spurred by rising demand from foreign-born Chinese and non-native English speakers," he added.

"Faced with new economic challenges, Chinese authorities have taken a series of strong policy measures which will take effect gradually and will be favorable for steady economic growth next year," said the country's fourth largest State-owned commercial lender by assets in a report released on Wednesday.