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"Cutting the subsidies may not necessarily be a bad thing. It can help weed out the incompetent companies and allow the competitive to stand out," Ma said.

"Didi will involve ofo into its own algorithmic model via artificial intelligence techniques and provide real-time travel options to users," said Neil Wang, China president at consultancy Frost & Sullivan.

"Farmers today are more aware that they need to do agronomic practices that are more precise, conserve natural resources and produce more food in the same piece of land. The more we are able to produce food in the same piece of land, the more we are saving trees and the more we are preserving bio-diversity, the environment has a better chance to thrive."

"Facing the complex and volatile economic and trade environment in both China and overseas countries, we have seen consumer products sector taking the lead in overseas mergers and acquisitions. This is largely due to huge potential of domestic demand in China's consumer market, and the urgent need for stable and sustainable development." Loletta Chow, Global Leader of EY China Overseas Investment Network, said.

"Energy-intensive xenon lamps cannot meet the new requirements and will be gradually be replaced by LED lights," he added.