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"Currently, China is still at the very early development stage of a cat economy," Peng added. "More efforts are needed to tackle problems, such as expensive medical bills and low-end food processing."

"Companies are facing challenges because most of them lack the core competitiveness. It's a good thing for the market to decide who can survive and who should be kicked out," he said.

"China's supply-side reform has reduced overcapacity in the steel industry by closing down those with issues of pollution and outdated capacity while controlling new capacity construction, and helped reduce steelmakers' debt levels. But we expect the government will continue to fortify the results of the supply-side reform and focus more on upgrading the steel industry."

"Chinese mothers who were born after 1990 have become the main consumers of maternal and baby products, and they are more willing to pay for professional and quality-guaranteed products and services. The traditional product-to-store model cannot adapt to the new development trend," said Zhang Yuan, brand representative of D-Cal.

"Consumer demand for gold products was weakened in the face of a surging gold price last year and an economic slowdown," said Alistair Hewitt, head of market intelligence at the World Gold Council.