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"But the government should put forward specific measures to avoid increasing the burdens of private companies, especially those small and medium-sized ones.

"But no kung fu has ever gained half the popularity in China as Taekwondo has," he said. "In the same way, no tea company has become as globally recognized as Lipton, a successful case of industrialism."

"But this is a huge departure from the norms of a market economy," Hufbauer said.

"China is the world's second largest economy and stock market, however, China A-shares are underrepresented in global capital markets," said Brendan Ahern, chief investment officer of the Krane Funds Advisors, which is the investment manager for KraneShares ETFs (exchange-trade-fund), noting that China's capital markets are too big to ignore.

"By far, average transaction value of institutions that have opened storefronts via Ant platform is 62 times that of those who have not. Besides, the former's asset management scale is 68 times that of the latter," said Huang Hao, president of Ant Financial's digital finance business unit.