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"China has maintained its growth resilience and gained reform momentum. The authorities have undertaken a host of policy and regulatory measures aimed at reducing macroeconomic imbalances and limiting financial risks without notable impact on growth," said John Litwack, World Bank Lead Economist for China.

"China places great importance on science, technology and innovation. The country follows an innovation-driven development strategy, encourages entrepreneurship and innovation nationwide and fosters sustained economic development and higher living standards."

"China is about three to four years ahead of developed economies including the United States and Europe in terms of intelligent projectors, giving us much confidence to develop abroad," he said.

"China is an important market for Qualcomm and we have a number of important partnerships and relations here in China," he said.

"Buyers are comparing the price and location of proper-ties carefully. In the past, buyers would flock to projects with price appreciation out of fear that they would no longer be able to afford them if they wait. Those kind of buyers have disappeared", said Lu.