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"Competition among online retailers will concentrate on new technologies, logistics networks and supply chains. E-commerce players should expand their offline consumption offerings and apply more cutting-edge technologies," Cao said.

"Chinese consumers' perception of beauty has upgraded. We find that users' aesthetics are becoming more diversified and personalized. We also see that technology is playing an increasingly important role in helping users. AI can now help thousands of users with personalization, automatically presenting their favorite effects and giving them accurate recommendations for cosmetics and skincare products. We think that this will be very important in the next decade."

"Consolidation is a natural progress for fast-growing businesses such as co-working spaces. Operators with market advantages will seek every opportunity to expand their market share," said Mi Yang, head of research at consultancy firm JLL North China.

"Currently, China's service exports are mostly dominated by large businesses. But the majority of the service providers in China are SMEs. There will be more opportunities for them to export their services in the future," he said.

"China will keep close communication with all parties in a manner that is objective, just and responsible," Wang added.