Meanwhile, together with other countries, China created the Asian Infrastructure Investment Bank for the Asia-Pacific region.

China has played a more and more important regional role to impact the world, as highlighted and praised by the WEF report which noted: "Much as a retreat from global multilateralism is worrisome, stronger regional multilateralism is not necessarily a bad thing, as regional solutions to regional problems can be consistent with global governance structures."

On the outlook of China's economy, Klaus Schwab, founder and executive chairman of the WEF, has said that China is attracting more and more global attention given its growing weight in global matters and reaffirmed his optimistic expectations on China's economy.

Schwab made the remarks in a written interview with Xinhua and reiterated his optimistic expectations on the outlook of China's economy.

"Even with 7 percent growth -- the government's target for 2015 - China is likely to remain the largest contributor to global economic growth. That is impressive, considering many of China's key trade partners, including Europe and Russia, are experiencing sluggish growth. It is also a sign of the strength of China's growing internal demand," said Schwab.

Nariman Behravesh, chief economist at the consulting firm IHS, expects to see more stimulus, noting China has taken actions to avoid economic hard landing and "the Chinese government is in a balancing act of trying to squeeze out some of the excesses of the debt-fueled property and industrial capacity expansion."