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"China's main consumers are young people who persistently pursue beauty, novelty and enjoyable experiences, so it is important for cosmetics brands to look into their needs and innovate accordingly," Cui said.

"China remains committed to its fundamental national policy of opening-up and pursuit of a strategy of mutual benefit and win-win outcomes," he said.

"Chinese companies, especially private enterprises and SMEs, should not be anxious or impatient. Opportunities still outweigh challenges for Chinese manufacturers to go global in the post-COVID-19 period."

"Consumption upgrade and supply-side reform have fundamental impacts on all industries. Under such circumstances, the auto market is undergoing adjustments, but it is good for the sustainable development of the industry in the long run," said Puttfarcken.

"China's growing demand for high-value products, especially automobiles and home-related services, offers many growth points," says Peter Tyroller, a board member at Robert Bosch GmbH responsible for the Asia-Pacific area.