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"China's exports saw challenges with the rise of trade protectionism," Ren added. "The economy also felt the pinch from a tightening of liquidity conditions during financial deleveraging. While this has reduced credit risk, it has also increased financing difficulties for private enterprises."

"China's involvement is very important because the demand for gold is high in China," said Niu.

"Chinese consumers are more willing to spend money on cosmetics and skincare products, and more people are paying attention to the quality of products," said Neil Wang, president of consulting firm Frost & Sullivan China.

"Companies from home and abroad are welcome to join in the development of Jinan, especially in the construction of the pilot free trade zone, to innovate and try and grow together with the city based on their respective advantages in scientific research, capital, talent, brands and management," he said.

"Consumers in China's less-developed regions are becoming increasingly sophisticated shoppers who are looking for lifestyle upgrades. This increased consumption potential could mean bright prospects for our merchants," said Jiang Fan, president of Alibaba's Tmall and Taobao.