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"China has been the most vibrant but also most fiercely competitive market in the world," Ryan said.

"By virtue of big data and artificial intelligence, the offline stores could better capture consumers' shopping habits and preferences, and make accurate recommendations," Chen noted.

"China and EU share the responsibility to safeguard the global free trade system and negotiation needs to be speeded up to conclude a China-EU investment agreement," he said at a news conference on the sidelines of the ongoing annual session of the National People's Congress.

"China is a country which is home to mega-sized cities, and the government will adopt various means to restrict these big cities from expanding too much," he said, adding that such restrictions will make a city function at a lower efficiency, especially in resource distribution.

"China Chengtong will team up with other investors including Baidu, Alibaba and Tencent to help China Unicom develop in cloud computing and big data," Li said. "More important, through the fund investors can share the opportunity to participate in SOE reforms."