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Ancient origins

And it's not just an entitlement for the tech-savvy youngsters. In Shanghai, senior citizens quickly filled their carts with veggies, cooking oil and bags of rice priced at up to 50 percent off, and were adept at paying with their phones.

Analysts have mixed views on the deal. Lincoln Kong from Goldman said Tsingtao would see benefits from collaboration with Fosun in areas including export business, premium branding and management incentives.

Analysts from Hebei Yuan Da Security Investment Consulting wrote in a note that the decline mainly came from companies that witnessed intensive trading previously. But the big picture is still a looming strong rebound in the short term.

And I think it's important that the plans are executed so that the world can truly enjoy the benefits of open market access and a transparent, fair and level playing field. These initiatives are already on track in China, and I certainly hope that they will be successful in the future.