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"Chinese shoppers have become more rational, and they are not blindly following the crowd to imitate others. They want products with both commercial culture and consumer mentality," said Pan, adding localization of global brands must keep pace with the times to stay competitive in the fast-changing Chinese market.

"Chinese consumers, especially the young generation, have significantly increased their trust in local big brands. This signals a very positive sign for the rise of Chinese brands," said He Xiaoqing, partner and head of consumption and retail industry at AT Kearney Greater China.

"China, especially center areas in the first-tier cities, has now slowed down its development and construction in the real estate industry," said Gu Jianping, chairman and managing director of Shanghai Tower Construction and Development Co Ltd, "a more serious consideration is how to effectively manage the current assets in this field."

"Chinese investment in the BRI economies is expected to register steady growth this year and may even accelerate, as the initiative has become more mature and gained support and positive attention from the international community," said Li Qiang, regional co-managing partner of Asia at global law firm DLA Piper.

"Clarifying the responsibility helps draw more under-age people into the volunteer team," Mao said.