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Chinese brands are now itching to take on Indian, South Korean, Japanese and US brands, said Nicole Peng, research director at global consultancy Canalys.

Chinese policymakers need to be more vigilant and decisive while formulating monetary policy and keep it flexible to deal with uncertainties that could hamper economic growth in the coming months, economists said.

Chinese people's increasing awareness of healthy lifestyles is influencing the nut snack industry, experts familiar with the matter said.

Chinese artist Xu Bing has a knack for creating the art of surprise. Witness the artwork for his recent label collaboration with Bordeaux-based winery Chateau Mouton Rothschild. On first glance, it appears as calligraphic as any finely rendered Chinese characters could be, but closer inspection reveals that the characters are composed of the Latin alphabet – in what Xu Bing calls his "Square Word Calligraphy".

Chinese high-tech businesses, such as ZTE and Huawei Technologies, are also keen to join the park, Ren said, adding that tax exemptions will be offered to companies for the first 10 years, and 50 percent tax breaks for a further 10 years.