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"China's SOEs maintain benign partnerships with enterprises under all types of ownership, as well as foreign enterprises. Cooperation helps China's SOEs in further deepening reform, improving development quality and enhancing management. This is a win-win situation that we look for," Xiao said.

"Coal, oil and steel industries already posted slower profit increases in March," said He, who also warned of pressure from rising costs and financial expenses.

"Cloud computing is a significant support platform for the IoT," said Song Hongming, senior marketing director of Huayun Data Group, a Chinese unicorn company that provides cloud services for over 300,000 businesses in the fields of traffic management, finance, education and manufacturing.

"Compared with tenants in other regions, those living in Beijing, Shenzhen (Guangdong province) and Shanghai move more frequently than others. Young people who live in first-tier cities are facing more uncertainty in their lives," it concluded.

"Chinese shoppers have become more rational, and they are not blindly following the crowd to imitate others. They want products with both commercial culture and consumer mentality," said Pan, adding localization of global brands must keep pace with the times to stay competitive in the fast-changing Chinese market.