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"Companies that ultimately go on to have success … what they have understood is that while content is critical, distribution is king," Wehmeier said.

"Chinese government policy is extremely clear as to where the automotive market is getting to go, and over the course of the next few years, the market is going to move extremely quickly," he said.

"Chinese shoppers have become more rational, and they are not blindly following the crowd to imitate others. They want products with both commercial culture and consumer mentality," said Pan, adding localization of global brands must keep pace with the times to stay competitive in the fast-changing Chinese market.

"China's LNG imports will continue to be an important contributor to its supply-scape in 2020," she said.

"Currently, China Mobile, the country's largest telecom operator, has as many 4G base stations as those of China Unicom and China Telecom combined. That could also be the case in terms of 5G base stations in the future," the research note added.