Li Cheng, a researcher with the Washington-based Brookings Institution, told Xinhua he was more optimistic than other scholars about China's economic reform and development.

Li said it was pleasantly surprising the new Chinese leadership put forward a series of reform plans and measures in such a short time.

For Virginia Kamsky, chairperson and CEO of Kamsky Associates, Inc., a strategic advisory firm that entered the Chinese market in the 1980s, the faster the Chinese reform can be implemented, "the better both the economy and society will be."

Observers are also concerned about the challenges facing China's reform in the future, after easy reform tasks have been dealt with first.

"Beijing has issued a flurry of minor changes, such as simplifying processes for registering new businesses, but has yet to take action on major tasks, such as overhauling the state-run banking system," an Associated Press report indicated.

Derek Scissors, a researcher with the American Enterprise Institute, said: "China's leaders have talked about better policies, but not yet acted."

Analysts say the Chinese economy is at a crucial stage, as it is facing painful but necessary structuring, amid slowing growth from that driven by the stimulus package launched after the outbreak of the global financial crisis.

Therefore, the speed, the dynamics and the sequence of conducting reform measures are significant.

Li Cheng, the scholar with Brookings, said China's reform would inevitably face risks but succeed with high probability as long as it was implemented in an effective and steady way.