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"China is resorting to SOE mergers and acquisitions to create more global powerhouses with competitive edge and to further the supply-side structural reform," said Yu Xubo, president of COFCO Corp, the country's biggest agricultural products supplier by revenue.

"China Life's latest investment is a typical example of Chinese insurers going abroad to optimize their asset allocations," said Hao Yansu, director of the school of insurance at the Central University of Finance and Economics.

"China is the second-largest market for the test now, and we'll continue investing in the subscription business as well as the Duolingo English Test," Loh said.

"China is such a significant economic player, and the Belt and Road Initiative could be globally transformational," Lehr said.

"But such a seemingly booming scene of 'luxuriant foliage' is, in fact, very dangerous, and it can be upended in an instant, because it is not supported by 'deep roots' under the ground," he said, referring to the lack of homegrown core technologies such as high-end chip manufacturing techniques.