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"China is a big market for us and we can see it becomes more open," said Kamran Vossoughi, Michelin China CEO.

"Capital market opening-up has accelerated substantially this year, with launches of the Shanghai-London Stock Connect and the Nasdaq-like tech board STAR Market," said Wang Tingting, an associate professor of finance at Central University of Finance and Economics in Beijing.

"But now people choose to visit a restaurant to sample the dishes made by a certain chef, which is more in line with the modern dining experience. We chefs now have more of a chance to present our culinary skills and the concepts we have about food."

"China is a major raw materials supplier for pharmaceuticals around the world. In these difficult times, it's extremely important for our industry to maintain an unbroken supply chain so front-line healthcare providers always have access to the high-quality medicines they depend on," said Chris Ewer, vice-president of Janssen Supply Chain Asia-Pacific.

"By May 2018, cyber celebrities with a fan base of more than 100,000 increased 51 percent from a year ago and their total followers surged 25 percent to 588 million," said the report titled 2018 China Online Celebrity Economic Development Insight. It was jointly published by market research consulting firm iResearch and social media platform Sina Weibo on Tuesday in Shanghai.