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"Considering the high proportion of small businesses from the Chinese mainland that sell online and utilize other digital technologies, there are opportunities for reputable financial institutions to apply financial technologies and big data analysis to make it easier for small business to access finance," Chan added.

"Chinese people value health. Businesses that promote health have a long-term future and can be sustainable, not the other way around," he said.

"Competition will also lead to cheaper battery prices and more industry consolidation, and the rest of the domestic battery manufacturers will have to fight more fiercely for market share."

"China will not only focus on introducing foreign technologies and capital, but also on opening more industries for foreign investment in fields like finance and services and promote the country's advancement into the mid-to high-end of the global industrial, supply, innovation and value chain."

"China's manufacturing remains in the trend of stable expansion," said Zhao Qinghe, an official of the NBS, in a statement.