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"Chinese regulators have allowed multiple securities, asset management, insurance, and other financial firms from the United States, Europe, and Japan to convert existing minority positions in joint ventures with Chinese partners to majority foreign-owned firms and have licensed a number of new wholly foreign-owned financial firms," Lardy noted in an analysis.

"Climate change, water scarcity, food security - these are giant problems. The easiest way to help the planet is to reduce meat consumption," the business founder says.

"China's duty-free retail market possesses huge potential as people's consumption capacity has increased amid widening market scope," said Guan Lixin, a researcher with the Chinese Academy of International Trade and Economic Cooperation.

"Chinese consumers have increasing demands for premium brands and high-quality imported products, ranging from toothpaste and toothbrushes, mattresses, clothes and handbags, said Zeng Bibo, founder and chief executive officer of Ymatou.

"Chinese brands are at the forefront of innovation, and its global brand-builders are helping to establish 'Brand China' as innovative, cutting-edge and pioneering. China's insatiable appetite for new technology is fuelling the growth of many brand categories and powering innovation at an incredible pace," the report said.