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"Companies need to upgrade marketing strategies by adopting data technologies to understand consumer preferences, expand brand influence among acquaintances and create more valuable content," he said.

"Chinese customs will continue to improve their law enforcement ability and intensify cooperation with overseas counterparts to promote the establishment of a more solid international network for fighting IPR infringement."

"Chinese parents are obsessed about education, something that is based in the culture," said Jeff Zhu, vice-president of Shanghai-based Dipont Education Management Group. "It has always been perceived as the main, if not the only, ladder, for the elevation of social status."

"Cities are vying for talent because people don't frequently change cities and jobs. Slow movers will likely miss a great future if they don't make the most of the current opportunities," says Lian Tao, co-founder of Xiaozhu, a Chinese home-sharing platform.

"China's e-commerce grew because it believed in the entrepreneurs," said Ma, adding that "first innovation, and then policies to facilitate entrepreneurism."