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"China may increase the interest rates for open market operations following the possible US rate hike, but in a moderate way, a similar move as it took in December and March," said Yang, who also suggested a further cut in the cash that banks set aside as reserves when liquidity risk increases.

"Canada and China enjoy strong economic and people-to-people ties, and the Economic and Financial Strategic Dialogue provided an excellent opportunity to strengthen our cooperation," said Carr.

"China follows its own path," he said, referring to socialism with Chinese characteristics.

"But the regulator may face greater pressure to maintain a reasonable supply of new shares while ensuring the quality of the IPOs given that there has been a long queue of companies seeking to float shares in the public market," Gai said.

"China aims to tackle the problems of inequality, exclusiveness and inefficiency in the previous globalization process and provide better global governance products for the world," said Fan Yongpeng, an associate professor with the China Institute of Fudan University.