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"Consumers have become more conservative spenders," said Xu Ruyi, head of research for Mintel China, which tracks spending across the country's 15 major consumer markets and releases the report annually.

"China's large and rapidly expanding market, combined with its complete industrial system, high-quality infrastructure and deepened opening-up policies, are all huge attractions for foreign capital. While many industrial chains were hit by the pandemic, the resilience of the supply chains will top the company's global mapping agenda and prompt adjustments," said Kang.

"China's textile industry urgently needs to figure out how to face the challenges brought by the new era of reform and opening-up," said Sun Ruizhe, president of the China National Textile and Apparel Council. He added that "technology, fashion, green" has become the new label for China's textile and garment industry.

"China ranks as Thailand's largest trading partner for five consecutive years and the bilateral trade volume reached billion last year, up 8 percent. The number of Chinese traveling to Thailand amounted to 11 million last year, one third of all foreign tourists in Thailand, making China the largest source of revenue for Thailand's tourism industry," said Sasirit Tangulrat, consul-general of the Thai Consulate in Shanghai.

"China's 40 years of reform and opening-up have provided numerous opportunities to General Motors," Matt Tsien, president of GM China, said. "The success of our joint ventures, like SAIC General Motors Corp and SAIC-GMWuling Automobile Co, is the best proof of China's economic opportunities and our long-term commitment to working with local partners to provide world-leading mobility solutions to our customers in China."