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"China's bike-sharing industry now enters a new stage of integration. Bike rental firms need to expand their business in an orderly way, improve the way bikes operate and increase their profitability," said Raymond Wang, a partner at Roland Berger China.

"China's uniquely advantageous position on the global economic stage is incomparable. The country offers an enormous wealth of hard-earned experience as well as technology that can be shared and transferred among developing countries," said Rachel Duan, president and CEO of GE China.

"Consumers with more knowledge about cars are more willing to buy second-hand cars as it is more cost-effective," he said, adding that the average age of Kaixin's customers is under 40.

"China's economic development has been extremely rapid after the adoption of the reform and opening-up policy," he said, adding that the policy has been beneficial to both China and the rest of the world.

"China's retail sales of consumer goods surged 9.8 percent year-on-year in June, especially driven by the rapid growing online sales and this year's June 18 retail festival," Mao said at a news briefing held on Monday in Beijing. "And we've witnessed fast growth in online sales of cosmetics and home appliances."