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"CNPC's decline in oil output should ease in the second half of this year and its gas-production growth may accelerate."

"By further reducing the burden of manufacturing enterprises, it will help promote the investment and development of the sector, and thus form a benign cycle. Tax cuts and fee reduction are an important measure to help lower the costs and they will help manufacturing companies to raise their product qualities," said Liu Xiangdong, an associate researcher at the economic research department of the China Center for International Economic Exchanges.

"China now imports around 10 million tons of steel products annually from other countries, and a large proportion of these imports belong to the special steel sector," said Ma Li, chief researcher at the Lange Steel Information Research Center.

"But still, bilateral trade has been growing so fast. It has benefited both countries. As people do more bilateral trade and investment with each other and there is more and closer contact between each other, competition will also increase. This is just a fact," he said.

"China has been an important engine for global growth in recent years," said Liang Haiming, dean of Hainan University Belt and Road Research Institute.