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"Continuous innovation is also needed, because the society is evolving at a very fast pace in China," Crozier said.

"Clients are looking to cut costs and, instead of designing products themselves, they are outsourcing it to Chinese companies," Ma told China Daily. "Design costs are high in Europe and the US."

"China's economy has maintained a momentum of steady and sound development. And the long-term positive trend of the economy has not changed," said Meng Wei, a spokeswoman for the National Development and Reform Commission.

"Cooperative mechanisms can also be established for upstream and downstream enterprises in industrial chains, to ensure the smooth operation of the domestic and foreign companies in China," Wang said.

"China's economic restructuring may not have a major adverse effect on the supply and demand side of the economy," Zhang said.