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"China only needs 6.3 percent year-on-year growth to achieve its target of doubling GDP by the end of 2020 from a decade earlier as scheduled," he said. In the 2020s, China's economic output is likely to grow at moderate pace, by around 5 to 6 percent year-on-year, according to Liu.

"China is now transitioning from the high-speed growth pattern to a stage of high quality development, paying more attention to creating jobs, increasing people's incomes and protecting the ecology and the environment, "Ning told media on Wednesday at a State Council Information Office news conference in Beijing.

"But with the 2020 presidential election coming up, he will be alert to any loss of support among constituencies he feels he needs for reelection," Jillson said in an email interview.

"By combining WorldFirst's award-winning currency account, international payments and currency exchange products with Ant Financial's range of financial technology solutions, we will advance our shared aims of building the best global platform for international trade and bring fast and affordable services to individuals, small and medium-sized businesses and online merchants around the world," Quin wrote.

"China and Europe's cooperation on big data will be promising and the two sides should jointly build a better global digital community," Gambardella added.