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"Chinese consumers want diverse, quality products, and a nice consumption environment," said Yu, adding that spending on health, convenience and personalized lifestyle products has risen.

"Conditions are much better than before. In the past, I was only allowed to sleep in the cellar, but now I am living in a bright room," Cui said.

"China's government is committed to further reforms, as shown by recent news on opening up the financial sector to foreign investors, increasing daily trading quotas on the Stock Connects, and potentially extending the Stock Connect program to London," Shi said.

"China's pressure from growth stabilization has eased greatly and it will pay way for its macroeconomic maneuvers to upgrade its economic structure and contain risks," said Cheng Shi, chief economist at ICBC International.

"China's sharing economy market and the employment in the sector witnessed rapid growth despite rising macroeconomic downward pressure," said Yu Fengxia, deputy director of the Sharing Economy Research Center.