"China should not squander the opportunity provided by recent fluctuation in the yuan's exchange rate. The central bank made the adjustment in August to allow the market to play a bigger role. Its key goal is allowing the market to offer quotes for the central parity rate of the yuan."

Huang Yiping, deputy dean of the National School of Development at Peking University, speaking Thursday at the Summer Davos in Dalian.

"Imports contracted about 15 percent in the first half of the year, while exports expanded slightly. The trade surplus this year is on track to exceed $500 billion, setting a record. To depreciate the yuan against the US dollar while the trade surplus is widening is unwise."

David Li Daokui, economics professor at Tsinghua University, speaking Thursday at the Summer Davos in Dalian.

Read more in Special Coverage: