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"Consumption is expected to rise around 2 percent year-on-year in July as China's consumption market will further warm up in the second half," Tang Jianwei, chief researcher of the Bank of Communications, told the paper.

"Chinese parents are obsessed about education, something that is based in the culture," said Jeff Zhu, vice-president of Shanghai-based Dipont Education Management Group. "It has always been perceived as the main, if not the only, ladder, for the elevation of social status."

"Currently, the majority of cars sold in China were built in China, it's a very good degree of localization," Samuelsson told Xinhua on Thursday. "But China is also used as Volvo Cars' export hub. Due to US imposed tariffs, we had to redistribute."

"China's smart cities market is projected to increase about 30 percent year-on-year in 2018, and all the provincial and sub-provincial cities have launched development and construction for smart cities, with more to follow suit," said Pierpaolo Franco, managing director of London-based Royal Institution of Chartered Surveyors, Greater China.

"Chinese cities are evolving on a truly global scale, where momentum is more dependent on levels of innovation, entrepreneurship and livability. They are home to a new breed of energetic tech-savvy firms that are extending their global footprints, facilitated by the Belt and Road Initiative," said Jeremy Kelly, director of global research at JLL.