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"China has the foundation as well as conditions to recover the economy," Ning said during an interview with People's Daily. "The trend of the Chinese economy toward stable long-term growth with sound momentum remains unchanged."

"China has always put development at the center of its work. And we commit to mobilize engagement in all social sectors in poverty reduction," he said, adding that China benefits greatly from those approaches.

"China is also becoming more open to foreign companies," said Ravi Shankar Bose, founder of mobile marketing firm Fugu Mobile, which chose China as its first overseas market.

"By doing so he is going to put about 800,000 people out of work. He proposes no solutions for those folks to continue employment anywhere," Smith told China Daily. "He puts at risk the pensions of hundreds of thousands of retirees with no solution on how to fix that problem either."

"By further expanding the opening-up and forging a level playing market environment, it will help to ensure sufficient competition, optimize equity structure and regulating shareholders' behavior," Guo said.