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"Competition has become fierce," Wan said.

"China's current account is now broadly in line with fundamentals," said Gita Gopinath, an economist at the IMF. "The (current account surplus) decline reflected a combination of structural factors and expansionary credit and fiscal policies, but also greater exchange rate flexibility and the associated real appreciation over the last decade."

"China remains, in my view, the world's best consumer story," he said.

"China's support has been decisive," Rodriguez said, speaking highly of the enduring fraternal ties between the two nations amid the financial and economic sanctions imposed on Venezuela.

"China's experience is that it has not copied any other country's development path and has not entirely followed European or US scholars' advice, especially their advice on financial sector, but that it has formed its own model of development, Cai said.