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"China's main consumers are young people who persistently pursue beauty, novelty and enjoyable experiences, so it is important for cosmetics brands to look into their needs and innovate accordingly," Cui said.

"Chinese investment is helping the UK develop infrastructure and create jobs. Nearly 50,000 British businesses import goods from China, while more than 10,000 sell their goods to customers here," she said.

"Consumers now have higher expectations for online-to-offline business," said Bruno Lannes, a partner at Bain & Co, the global management consulting firm, in China. "Retailers must come up with new models."

"China's investment sector has reached a stage where we should put equal emphasis on investing abroad and attracting foreign investment," said Guo Hongyu, deputy director of the foreign economic cooperation department at the commission.

"Consumption has contributed at least 75 percent to China's GDP growth for the last five consecutive quarters, despite slowing since the second quarter of 2018. Going ahead, consumption will become a major incentive to boost China's economic growth," said Zhou Wenqun, a manager at consulting agency Fidelity International.