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"Companies should be clear and transparent with your customers about what you are collecting, how you are using and protecting that data, and ensure that you got consent from them so they have the knowledge that their data are being collected," she explained.

"Chinese businesses are resilient and retain a well-honed ability to adapt," The Economist said. Faced with online migration of Canton Fair, exhibitors showed great adaption to the new technology.

"China's bike-sharing industry now enters a new stage of integration. Bike rental firms need to expand their business in an orderly way, improve the way bikes operate and increase their profitability," said Raymond Wang, a partner at Roland Berger China.

"China's economic restructuring can be seen in the rising contributions of consumption and services to GDP," he said, adding strong domestic consumption has not only strengthened the country's markets but also stimulated both multinationals and domestic companies to shift the emphasis of their operations from 'Made in China' to 'Made for China'.

"China's automobile service sector is at an important turning point, and new consumer market opportunities and new consumer powers are taking shape. In the past three years, we have been striving to build the infrastructure to suit the new market, formulate new product and service standards, and realize industrial restructuring and upgrades in the form of New Retail."