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"Cheap and abundant labor is the most often-mentioned comparative advantage of developing countries. However, this has not been the only reason for the robust development of China over the past four decades," said Fan, also chairman of the China Development Institute.

"China always raises the principles and values of cooperation, win-win cooperation and mutual benefits," said al-Fiqqy.

"Certainly, it provides a great opportunity for investors to go to China and experience the dynamic and growing economy," he said.

"China and the EU should be partners for free trade. Apart from a high-quality investment agreement, we should work for an early start of negotiations on a free-trade agreement, or at least the launch of feasibility studies on that front."

"But they will again face the challenge of overcapacity this year," said Dong.