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"Driving the pickup in domestic demand was largely still investment, while real retail sales also gathered pace," said Tommy Wu, lead economist of Oxford Economics.

"Earnings growth may sustain at a rather high speed in the next few quarters," Xu said.

"Family businesses in China should put their focus on business transformation and innovation, proactively monitor the general economic situation, invest more on people and talent retention, and even engage professional advisors to support their development," Sun said.

"Even among South countries, some have emerged like the BRICS (Brazil, Russia, India, China and South Africa)," said Cai, who is also former vice-chairman of China's Banking Regulatory Commission, adding that these five countries all have found their own way of development.

"Even when they go to mainstream countries, they will discover new routes," she said.