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"China's evolving business environment and opening-up has contributed to Danone's steady growth in the country," he said, adding that the company believes that China's ongoing consumption upgrade and booming e-commerce business will benefit not just domestic sales, but also other parts of the world.

"Consistent with these plans, the country's ongoing and necessary rebalancing process implies lower future growth," he said.

"Companies that ultimately go on to have success … what they have understood is that while content is critical, distribution is king," Wehmeier said.

"China's smartphone market is huge, and although it has fallen for two consecutive years, it still accounts for about 30 percent of the global market. In such a big market, there are many niche users, who will satisfy the survival of the niche brand itself," said Jia Mo, an analyst from global market research company Canalys.

"Cooperation under the framework of the Belt and Road Initiative may start with California," Zhang said.