"Low-cost carriers still have a long way to go in China, but they will certainly take off."

Wang Yingming, executive chairman and executive president of HNA Aviation Holding Co Ltd.

Experts say low-cost carriers are set to fly high in China over the next few years with more companies eager to cash in on rising passenger numbers to offset dwindling profits, rising costs and low profit margins.

"If growth dips below 7 percent, the markets will be a little scared, but the reason is either they don't have the information or they don't process it to be able to tell whether it's a transition or a trend."

Michael Spence, professor of economics at the Stern School of Business at New York University and a Nobel laureate in economics.

China should be disciplined about GDP growth and not over-use available leverage, which can cause distortions, or revert to old growth patterns, especially post-crisis growth patterns, he said.

"Chinese companies tend to conduct M&As in developed markets and focus on industrial investment in less developed regions such as Africa."

Jin Bosong, a researcher at the Chinese Academy of International Trade and Economic Cooperation, a government think tank.

Confronted with the sluggish global economy, rising yuan interest rates, and increasing trade friction with some countries, Chinese companies have been encountering difficulties in landing overseas deals, and as a result have become more prudent in decision-making, he said.

(China Daily Africa Weekly 07/04/2014 page18)