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China's plan for a new type of urbanization will generate higher consumer demand from a larger section of residents. As the focus of consumption upgrade shifts to lower-tier cities and towns, the room for growth will hopefully increase for a greater number of cost-effective domestic brands, Cheng said in a research note on Nov 20.

China's proposed tariffs on US soybean and pork will have limited impact on domestic consumer inflation measured by the consumer price index, he added. Estimates show that if domestic soybean prices rose by 25 percent, China's CPI will still be kept at an average of 2.4 percent, well below the control target of 3 percent, for this year. Considering the fact that China can import such products from other countries, the real effect will be even smaller, Wang said.

China's producer price index, which measures costs for goods at the factory gate, dropped 0.8 percent year on year in August.

Chinasia has gathered much expertise over more than three decades. "At the beginning, China tours mostly attracted Italian people from the middle-high class, well educated, and with an average age of 40," Grassi said.

China, as the rotating chair of the international bloc, will host the ninth BRICS annual summit in September in the coastal city of Xiamen, Fujian province. The festival is one of the key events for the summit.