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"Forty years after China's reform and opening-up, China's supply chain, manufacturing chain, as well as its talent pool, have probably grown to the top position in the world," said Wu Peng, general manager of marketing and sales at Dreame Technology, a Tianjin-based company that specializes in smart household appliances. "Along with the development of these basic infrastructures, Chinese brands have become very competitive in the world."

"Financing cost of above 6 percent may put pressure on developers who do not have access to abundant liquidity," the research note said.

"From where do you get the power to issue deadlines or ultimatums to a sovereign people?" he told the Security Council.

"Four leaders from Shagang have been dismissed from their posts or demoted. A special team has been sent to Shagang and will work with third-party organizations to scrutinize its problems."

"Generally, private companies in China have focused more on business than management and pursued rapid business growth rather than sustainability," William Chou, vice-chair of Deloitte China and leader of Deloitte Private, said.