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"Contrary to the assertions of the USTR, we were hardly forced into these arrangements," he wrote on the Project Syndicate website on Tuesday.

"Cooperation with foreign counterparts plays an important role in exploring international markets, since local partners and special personnel that better understand local markets help Alpha easily integrate with foreign markets," says Seven Wang, executive assistant to Alpha's president.

"Currently, China is still at the very early development stage of a cat economy," Peng added. "More efforts are needed to tackle problems, such as expensive medical bills and low-end food processing."

"China's reforms in the healthcare sector make the medical device market more transparent and fair, allowing us to expand the market with competitively priced new products."

"China still has sufficient policy tools to handle possible shocks," Zhang said at the China Finance 40 Qujiang Forum in Xi'an, Shaanxi province, on Saturday.