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"From a global perspective, cutting individual income tax is an effective measure to implement proactive fiscal policy. It can raise disposable income, with the objective of boosting consumption and increasing aggregate demand," said Liu Yi, a professor at Peking University's School of Economics.

"For example, in the planning of Xiongan New Area, in the past we could only analyze the climate and the geographic features," she said. "But now we can be specific to the actual demands of the citizens and companies, and make detailed plans for every inch of land."

"Global investors have been structurally underweight in China for many years," said Michael Orzano, senior director of global equity indices at S&P Dow Jones Indices.

"Given the size and importance of the Chinese market, with the world's largest banks and second-largest stock market, that is welcome news for China and the world," Ratna Sahay and James P. Walsh, two senior IMF officials, said in a recent blog post.

"Growth is going to continue to come from China for the next 20, 30, maybe 40 years…The greatest growth opportunity in the world is the Belt and Road Initiative," Perry said. "What China is trying to do is free the productive capacity and consumer demand across from China, across central Asia, central Europe, and down into Africa."