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"By doing so he is going to put about 800,000 people out of work. He proposes no solutions for those folks to continue employment anywhere," Smith told China Daily. "He puts at risk the pensions of hundreds of thousands of retirees with no solution on how to fix that problem either."

"CASC, as a representative of China's State-owned enterprises (SOEs), will take a lead in promoting the operational efficiency of state-owned capital to be used in building a 'healthy China' with a better medical system," he said.

"China is taking a leadership in maintaining free trade, and actively collaborating with international partners. The world cherishes that leadership, because collaboration and not confrontation is the way forward."

"China has many favorable conditions and will actively solve problems that have occurred in its way forward through reform and development," he said.

"But the think tank could be some time away," he added.