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"But we should care about any cliff-style drop of credit in the future," or a sudden slowdown in credit growth, Hu explained, because large policy changes may lead to unstable expectations among investors.

"China is more aggressive than anybody in developing smart cities. We see the three main drivers in the ecosystem, which are intellectual capital, emotional capital and financial capital," said Dana Magenau, managing director of UC Berkeley executive education.

"China has the global competitive edge in terms of labor-intensive products, while the US has the global advantage in terms of skill-intensive products and service industry," said Xu Hongcai, an economist with the China Center for International Economic Exchanges.

"China has always abided by the rules of the United Nations resolution on a trade embargo with the DPRK ... It is a common responsibility of all UN members. China will carry out the practice in a consistent, accurate and stringent way." he said.  

"But the pilot program is relatively limited right now, involving a small group of people. The trials' expansion may take more time; it would be a gradual process," said Li, who is head of the blockchain research group of the National Internet Finance Association of China, in an exclusive interview with China Daily on Monday.