"China is entering a sustained period of slower growth -- the so-called 'new normal.' British companies need to plan for this, but equally recognize it is reduced growth in an enormous market, with ever increasing opportunities for British companies across many sectors," Pang said.

Williams said that policymakers in China also have the "luxury of still being able to loosen policy if necessary", unlike their counterparts in many developed economies.

"Indeed, the government's own budget projections point to a sizeable boost from government spending over the second half of the year," he said.

Kamel Mellahi, a professor at Warwick Business School, believed the depreciation of the yuan was no great cause for concern.

"With $4 trillion of bank deposits, China still has the financial firepower to alleviate market pressure," Mellahi told Xinhua, saying the government's reluctance to initially interfere aggressively to calm the market suggests that China has finally decided to let the market forces play a bigger role in deciding the value of the currency.

"China is concerned that aggressive interference in the market may sow the seeds for future problems, especially worsening the credit growth which is already high and could go out of control," Mellahi said.

Stephen Phillips, chief executive at CBBC, was optimistic about China's growth.

Given the background of China's "new normal" in economic evolvement, Phillips suggested that increasingly, companies need to look at China with "more granularity," as there are significant differences in economic performance between provinces and cities, as well as in different sectors.