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"Chinese railway workers sacrificed more than one life per mile of track. This was the buried history of blood and tears," Choy said emotionally.

"Currently, however, Chinese companies lack genuine technological breakthroughs and innovation. They still have very little in the way of unique differentiation compared with other providers," Ji said.

"China's economic data for July showed that the recovery remains unbalanced and reliant on extraordinary policy support," said Shaun Roache, Asia-Pacific chief economist at S&P Global Ratings. "The central bank wishes to lower borrowing costs while guarding against financial risks, and it is trying by developing tools that increase access to credit for the real economy, especially small and medium-sized enterprises."

"Chinese consumers are shopping across seven different store types and we believe there are still opportunities for brick and mortar retailers," said Jason Yu, general manager of Kantar Worldpanel China. The key is how the retailers adjust to the changes in China and revise their store formats and accelerate digitalization.

"Chinese firms have made meaningful gains over the past decade after Beijing's directive to prioritize green sectors," Liu said. "These firms can therefore draw on their experience and replicate their successes in Africa to make a significant impact."