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"China's online education will enter a boom period where different firms are expected to thrive soon. In the K12 or kindergarten to 12th grade sector, leading companies will likely dominate the market," said a recent report from CITIC Securities.

"Currently, there's not enough regulation," Zhu said, adding that it's necessary to set up an industry association to supervise the use of deposits.

"Chinese mobile operators should be encouraged to deliver what they do best in providing secure, reliable, and intelligent connectivity to businesses and enterprises across the country," said Granryd.

"China's development needs to be coordinated with the world's, and the best solution is to continue carrying out bold reforms and opening-up."

"China's young luxury consumers are more interested in aspiration than heritage, making it imperative for brands to modernize their stories and deliver them through digital channels," said Luan Lan, partner and leader of McKinsey's apparel, fashion, and luxury group in China.