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"Chinese consumers have already developed the habit of buying almost everything online. The expensive, large-size home appliances can now also be bought with a mouse click, with e-commerce companies building trust with consumers and offering free installation services," said Lu Zhenwang, CEO of Shanghai-based Wanqing Consultancy.

"Companies must balance low manufacturing costs with overall supply chain costs such as transportation and components supply," Tonby wrote.

"China was going very fast, and the emphasis was on the rate of growth. In the new era, China will grow more slowly, but the emphasis would be on the quality of growth," Thornton said, adding that this is a good sign of economic maturity.

"China's economic growth will face difficulties from both domestic and external fronts," said Liang Haiming, president of China Silk Road iValley Research Institute and a visiting scholar at Princeton University.

"China should strengthen policies to encourage shipyards to achieve smart manufacturing in more specific and detailed manufacturing processes, especially in the outfitting phase," he said.