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"Chinese regulators have allowed multiple securities, asset management, insurance and other financial firms from the United States, Europe and Japan to convert existing minority positions in joint ventures with Chinese partners to majority foreign-owned firms and have licensed a number of new wholly foreign-owned financial firms," Lardy noted in an analysis.

"China's economic growth has undergone profound changes in the post-crisis era," he said. "The ratio of consumer spending to GDP has been on the rise for eight consecutive years."

"Chinese skiing would offer real potential for us," he said.

"Conforming to this trend of the times is the choice of most countries," Ma said, adding that China currently maintains diplomatic relations with 178 countries, and this trend will further develop.

"China's strengths are mainly shown in AI applications and it is still weak on the front of core technologies of AI, such as hardware and algorithm development," the report noted. "China's AI development lacks top-tier talent and has a significant gap with developed countries, especially the US, in this regard."