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"Corruption and fraud still exist in the poverty alleviation sector," Hu said, adding that 187 officials in 39 counties made use of their work positions to improperly aid family relatives and friends or even embezzle the funds.

"China's current account is now broadly in line with fundamentals," said Gita Gopinath, an economist at the IMF. "The (current account surplus) decline reflected a combination of structural factors and expansionary credit and fiscal policies, but also greater exchange rate flexibility and the associated real appreciation over the last decade."

"Chinese government gives subsidies to both producers and consumers of EVs. It not only boosts EV sales, but also helps realize environmental protection goals," he said, adding that the government also encouraged EV producers to invest more on research and development.

"Chinese immigrants opened restaurants to make a living, especially when the Chinese had very limited employment opportunities because of racial prejudice," Yong Chen, a professor of history at the University of California, Irvine said.

"Cities are vying for talent because people don't frequently change cities and jobs. Slow movers will likely miss a great future if they don't make the most of the current opportunities," says Lian Tao, co-founder of Xiaozhu, a Chinese home-sharing platform.