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Ant Financial, Alibaba's financial arm, has even brought its technological prowess and business model to India, helping to incubate the indigenous digital wallet Paytm, which draws experience from Alipay, its Chinese equivalent.

Apart from donating medical supplies, Huaxi village also helped build infrastructure in Mozambique's remote areas, including two schools and many roads and bridges.

Another solution to promote innovative leadership is to hire executives who show the potential in creating or encouraging innovation.

Any new measures as part of China's reform and opening-up policy would help strengthen the financial sector as well, said Duo Yuan, founder and chairman of Blue Stone Asset Management, one of the country's largest private funds by assets under management, or AUM.

Another factor contributing to China’s achievements has been opening-up, which has helped China to leverage its comparative advantages and raise its competitiveness and development level by integrating it into the global division of labor and industrial and value chains. In this process, we have also endured huge pressure, paid a high price, and experienced growing pains. Some obligations China assumed upon WTO accession far exceeded what was required of a developing country and even approached the level of a developed member. For example, China undertook to cut tariffs for agricultural products to around 15%, only one quarter of the world’s average level and lower than that of many advanced economies. Some industries in China were inevitably affected in the open marketplace, leading to bankruptcies and lay-offs. In some sectors, domestic brands came to be outnumbered by foreign ones, such as in passenger vehicles.