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Bernard Dewit, chairman of the Belgian-Chinese Chamber of Commerce, said he is also concerned about the looming "trade war" escalation between China and the US because the danger is that the world economy will suffer in the end.

Beyond Meat is the first international plant-based meat brand to open a factory in the country. Located in Jiaxing, Zhejiang province, it is one of the world's largest and most technologically advanced factories for such products.

Bhiwandi, a textile hub with largest power looms in Asia's third-largest economy, has turned into a logistics hub with e-commerce companies having their warehouses to cater to Mumbai's consumer demand.

Benedict Bingham, Country Director, PRC Resident Mission, ADB, maintained: "policy making in China has always been conscious of the need to avoid leaving the vulnerable behind. So, there has been a conscious effort to push reforms to expand opportunities, while also calibrating the speed of those reforms to avoid creating win-lose imbalances and complementing those reforms with reforms that brought expanded access to social services and education."

Besides digging into new research topics, Vogel is also actively engaged in training new generations of experts on China in the United States.