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As major risks in the insurance sector are being addressed and the profitability of state-owned enterprises is recovering, Lardy said China's financial risks are under control.

As more opportunities can be generated from projects like the East Coast Rail Link, of which the construction is led by a Chinese company, Foo hopes more companies from China can partner with their Malaysian counterparts to develop business opportunities.

As one of the world's largest suppliers of household appliances, Xinbao Electrical Appliances Holdings Co Ltd in Foshan, southern China's Guangdong province, occupies a 10 percent share in the global market, while its star product, coffee machines, could hit 40 percent in the global market. Its early resumption weighs a lot in the global supply of household suppliance.

As of now, China is the biggest trading partner of South Korea. Latest data from the General Administration of Customs showed that China and South Korea achieved bilateral trade of 3.7 billion from January to November this year, up 12.1 percent year-on-year.

As of the end of 2016, the CCDI had investigated 240 centrally administered officials, punishing 223. Disciplinary inspection and supervision departments across the country registered 1.162 million cases of corruption, punishing 1.199 million people.