Despite recent challenges as reforms start to come into effect, China's economy is still viewed very positively by business analysts.

Jia Kang, director of the Beijing-based academy and former head of the finance ministry's research institute, told Business Standard that China's economy hasn't reached rock-bottom yet, but is still experiencing a "downward pressure."

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"We expect authorities to step up growth stabilization measures," Kang said.

Despite the “downward pressure” that the Chinese economy is facing, certain businessmen remain hopeful and positive regarding the world's second biggest economy.

Xinhua reported that James P. Gorman, CEO of global financial services firm Morgan Stanley, said that despite a slowed growth rate, China's economy still has enormous potential and its contribution to the global economy is still one of the highest in the world.

Gorman added that despite worries caused by the economic slowdown, economic transition is still more important than growth pace.

"The market gets obsessed by percentages. Is China growing at six, seven, eight or ten percent?" Gorman said in dismissing the growing concerns about the pace of the growth of China's economy.

A Morgan Stanley report said that China's reforms and policies will generate more business opportunities in health care, technologies and the Internet.

Another businessman who sees China's current market potential is businessman Henry Sy, who owns the SM Investments Corporation in the Philippines. The Wall Street Journal reports that he is the richest man in the said country, where his malls dominate the retail scene.

Sy, who hails from China, plans to build SM malls in his birth country. His conglomerate is reportedly planning to build three malls in China by 2017, and one of these will be the world's largest free-standing mall, targeted to open next year.

Sy believes that his company can reach China's middle class, and thinks that they will receive more returns there compared to what they are getting in the Philippines.

Teresita Sy-Coson, Sy's daughter, explained that although this might seem like a homecoming for her father, their plans for the expansion to China isn't driven by sentiment. Instead, they intend to be in China for business reasons.

“But we do have a Chinese background, and we understand the culture," she said.

Sy-Coson added China also boasts of an emerging middle class that enjoys what their income can afford to purchase  — including food.

TagsSM Investment Corporation, SM Malls China, Henry Sy Malls China, china economic growth, yuan