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"China continues to transition to a more sustainable growth path and reforms have advanced across a wide domain," the executive board of IMF said in a statement after concluding Article IV consultation with Chinese authorities on the Chinese economy.

"But we need to maximize opportunities and minimize challenges by tackling anti-globalization forces to accelerate growth," he added.

"China is now one of our fastest-growing and most strategically important markets."

"China has mastered the core technologies of commercial maglev trains, and has established a comprehensive system ranging from technical research and manufacturing to commercial operations," said Liu Youmei, an academician of the Chinese Academy of Engineering.

"But the gradual maturing of electric car technologies and consumers' growing desire to embrace eco-friendly cars will still give it a good momentum," Xiao said.