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"Food or clothing shortages no longer threaten the 1.3 billion Chinese, and more than 850 million Chinese are out of poverty, 770 million are employed," Chen said.

"Great improvements have happened to the environment in my hometown. When I left at age 17, I had never seen an egret. Now, there are birds everywhere. They are beautiful," he said.

"From a long-term perspective, population determines economic growth. Even though it will take some time, the number of consumers determines the potential of economic development in both developed and developing economies," he said.

"Given that China has entered the recovery phase of its economic cycle and the government has rolled out supportive policies, the country's economic growth should pick up over the rest of the year," Yang said, adding that the forecast is predicated on not having a "reverse" in China-US trade talks.

"Given the large scale of China's economy and foreign exchange reserves, it is unlikely for the country to be significantly hurt by risks associated with cross-border capital flows, but it is still necessary to push ahead reforms to better leverage the market's role in managing risks," Liu said.