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"For instance, human resources personnel should not only know how to recruit people or calculate KPI (key performance indicators), but have a deep understanding of the company's business and its future development strategy."

"For B&B operators, the key to success amid fierce competition is to make the property a livable and attractive place," said Dai Bin of the China Tourism Academy in a forum.

"Global investors may no longer regard China as a manufacturing base with low-cost labor, but a strategically important consumer market," Shen said, citing that future growth in inbound M&A investment may mainly come from consumer goods sectors, instead of export-oriented factories.

"For a company to succeed, we need to find out what exactly people want. African users like selfies, multiple phone card slots, enabling local language, stable music function and longer battery life," he said.

"Given the declining base effect and the depressed demand due to the epidemic, CPI growth is likely to gradually decelerate for the rest of the year," he said.