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"But there is still much to be done," Li added, citing it is important for Chinese companies to conduct efficient communication with the local communities, especially clarifying the purpose of investment and clearing other doubts.

"China only needs 6.3 percent year-on-year growth to achieve its target of doubling GDP by the end of 2020 from a decade earlier as scheduled," he said. In the 2020s, China's economic output is likely to grow at moderate pace, by around 5 to 6 percent year-on-year, according to Liu.

"China is entering a new stage of institutional and rule-based opening up, which is more advanced compared with the opening up of the market," said Zhang Monan, a research fellow of the China Center for International Economic Exchanges.

"China advanced to a global ranking of 46 this year, up from 78 last year, as the country implemented the largest number of reforms in the East Asia and Pacific region," the report said.

"Chaoyang was Beijing's industrial manufacturing base for electronics, petrochemicals, textiles and automotives. Those factories covered a total area of 3 million square meters," Liu said. "Plenty of space is available for new industries after moving the factories out."