China can hope to see its economy grow for a long time, especially if it is successful in shifting the components of growth toward the consumer, said Byron Wien, vice chairman of Blackstone Advisory Partners LP on Monday.

China's central bank is looking to negotiable certificates of deposit (NCDs) as calls for a fully liberalized interest rate grow.

China should resolve to reorganize redundant financial innovations that do no good for the sector's development and the real economy, senior officials from the country's financial regulators have said.

China will raise the dividend payout ratio of many central State-owned enterprises starting this year by 5 percentage points to as much as 25 percent of profits, the Ministry of Finance said in a statement on Tuesday.

The US exports to China hit $120 billion last year, making China the third largest export market for American goods, said the US-China Business Council (USCBC) Wednesday.

Housing Sales Fall over May Day Break-China

As the speculation over when China will overtake the United States as the world's largest economy rumbles on, China is more aware of the quality of its economy, rather than the sheer size.

China's manufacturing activity continued to shrink in April, but at a slower pace, fresh evidence that the sector is facing growth challenges, according to HSBC's purchasing managers' index (PMI) released on Monday.