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"Consumers are willing to spend more money on safer products with better quality to benefit their health," Qian said.

"China's textile industry saw robust development in the decade before and after its entry to the World Trade Organization in 2001, largely thanks to foreign trade," she said. "But low-quality Chinese textiles had begun to lose their price advantage in global markets by the time I graduated. It was then I realized that high-end textile manufacturing would be a new trend."

"Cosmetics brands have also innovated continuously to attract consumers who like to follow the latest fashion trends or reward themselves with beautiful items, try on new products or make repeated purchases," Jin said, adding that some 59 percent of consumers have many lipsticks that they have not used.

"Consequently, opportunity abounds as brands seek to engage the attention of consumers in the world's most lucrative and fastest-growing luxury market," it said.

"China's experience can be valuable and we should learn from China humbly," said Kriengsak, who also is a prime ministerial adviser and chairman of Thailand's Nation-Building Institute International.