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"From the current circumstance that we know, some provinces, cities and counties have implemented, or planned to implement budget adjustments" to achieve the budgeted income and offset negative impacts, such as slower profit growth in some key industries and industrial restructuring, according to a statement from the ministry.

"Five years ago, when everybody paid with cash, I couldn't have imagined that today China would use mobile payment on such a large scale," said Kovachich, who lives in Moscow and specializes in editing stories on Chinese economy and financial technologies.

"For example, a more convenient consumption environment for foreign travelers is needed," he said. "No matter if we're talking about visa issues or language services, they still need to be improved."

"For us, China's not simply a large-scale consumer market, but also an important source of innovation as well as a major element of the industrial value chain," said Jochen Goller, president & CEO of BMW Group Region China, during a special session of the China Development Forum which concluded Saturday in Beijing.

"For example, they will demand Trump's tax returns, not primarily to expose him but as part of a broader campaign against corruption," he told China Daily in an email.