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"For medicines treating rare diseases, AIDS and cancers, we will accelerate the administrative approvals to shorten the time by one or two years for them to be sold in the Chinese market and meet the demands of Chinese patients," Jiao said.

"For China, prudent monetary policy is basically appropriate at present as indicated by major financial data in August, such as improved aggregate social financing and the growth rate of the broad money supply," said Sheng Songcheng, former head of the PBOC statistics and analysis department.

"For the coming five years, we will continue to drive digital transformation for traditional enterprises, such as the construction of new infrastructure in financial sectors," Cao added.

"Financing through local government financing vehicles is expected to become subject to increasingly strict regulation and more transparency" as the country strengthens risk controls, said Fu Yubin, a sub-sovereign research analyst at Moody's Investors Service.

"For startup companies, the costs and talent pool are the two key factors. Before we settled down in Suzhou, I had studied a number of other cities, but only Suzhou can provide the ideal entrepreneurship environment and affordable operating costs. The many policies to attract experts and industry leaders are also crucial to companies in their early days," he said.