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"China's government is committed to further reforms, as shown by recent news on opening up the financial sector to foreign investors, increasing daily trading quotas on the Stock Connects, and potentially extending the Stock Connect program to London," Shi said.

"Competing in the 'backyard' in hockey and various other sports was great fun and helped hone our skills, but also, as it was self-umpired, taught us about competing fairly and fair play," said Meacock, chief strategy officer of Deloitte Global.

"Competition is the essence of market economy, the foundation of stimulating market vitality and the motive force of expanding market opening," said Chi Fulin, president of the China (Hainan) Institute for Reform and Development.

"Coal, oil and steel industries already posted slower profit increases in March," said He, who also warned of pressure from rising costs and financial expenses.

"Compared with consumers in other markets, we found that Chinese customers are incredibly inquisitive and hungry for information. They want to embrace new technologies and are fairly open to disruptive products," he said, stressing that with the rapid development of intelligent technology, the smart home has become an industry trend.