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"Consumers in Shanghai are willing to try out new flavors, especially those from European countries," Nong said.

"Citi China's FMDB license is a piece of welcoming news for many of our QFII and RQFII clients," said Harry Peng, managing director and head of prime, futures and securities services for Citi China. "We are in a unique position – as the only American bank who can offer a complete solution to international investors to invest into China, whether it's equity or fixed income, directly (QFII, RQFII and CIBM direct scheme) or via Hong Kong (Stock Connect and Bond Connect), end to end, from sales, trading, research to custody, clearing and settlement. We have the full licenses and capabilities in China on the ground."

"Chinese app developers are leading the world in terms of app downloads and revenue, and have grown to be a very admirable community of innovators," Isabel Ge Mahe (Ge Yue), Apple's vice-president and managing director of Greater China, told Xinhua on the sidelines of the China International Big Data Industry Expo 2019 that opened in Southwest China's Guiyang, Guizhou province, on Sunday.

"China urges the US to earnestly fulfill its bilateral commitments, respect the facts, and objectively and impartially evaluate the efforts made by foreign governments including China in terms of intellectual property rights and the results achieved," the ministry said in a statement.

"Customers will see more luxury automakers following suit. It's essentially a reaction to the lowered VAT rate," said Ron Zheng, a Shanghai-based partner with consultancy Roland Berger.