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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.

"Chinese consumers are increasingly cooking at home and like small home appliances with multiple functions and attractive appearances," said Si Zhenming, brand director of Joyoung.

"Cui has vividly interpreted the core values of Chinese socialism and has set a good example for others," said Li Dequn, one of Cui's colleagues. "He himself is thoroughly forged of special steel."

"Chinese consumers' demands have become more and more diversified and personalized," said Gu Fan, vice-president of Amazon China, adding the company will step up efforts in the cross-border online shopping sector through Amazon Global Store and Prime membership.

"Construction of the third phase of Chimelong theme park will help upgrade Panyu's tourism industry to a new level and play an important role in the district's economic construction in the future," Huang said.