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"China will remain a must-win market for car brands in the foreseeable future," said Paul Gao, senior partner and head of McKinsey's automotive practice in Asia. "As Chinese consumers continue to become more sophisticated, automakers must reinvent their success formulas to surprise and delight them."

"Corn yields, for example, can drop by 1.5 to 3 metric tons if the straw is smashed and returned to the field," he said.

"China's process industry is catching up to the rest of the world in terms of sustainable, high-quality development, yet many companies don't know how to well structure the strategy to execute it," said Chen Yan, vice-president and general manager of Honeywell Process Solutions, China.

"Chinese consumers and especially millennials are looking for more than just buying an item off the shelf," ThreeSixty Chief Operating Officer Jan-Eric Kloth said in a statement. "They want to be engaged and entertained."

"Competition is the essence of market economy, the foundation of stimulating market vitality and the motive force of expanding market opening," said Chi Fulin, president of the China (Hainan) Institute for Reform and Development.