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"Considering China's domestic situation, which is at a different stage of the economic cycle compared with the US, China now should not tighten (the monetary policy), but may moderately ease under some circumstances," said Yu Yongding, director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, who served on the Monetary Policy Committee of the People's Bank of China from 2004 to 2006.

"China's trade in creative goods between 2002 and 2015 has been exponential, with average annual growth rates of 14 percent," the report said. "In 2002, China's trade in creative goods was billion. By 2014, this figure had increased more than fivefold, tallying 1.4 billion."

"China remains the only one of the BRICS countries that after 17 years has actually done exactly what we had expected it would achieve," he said.

"Compared to translation, I am more enthusiastic about creating stories. And even before college, I already had some work published," she says.

"Currently, Chinese people are ushering in an era of consumption upgrades that attached more importance to development and enjoyment, providing strong support to create a robust domestic market," said Wang Yun, director of the consumption office of the economics institute at the China Academy of Macroeconomic Research.