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"Chinese companies should increase investment in technology innovation and business model innovation, and the government should guide capable large companies to create a strategic layout at the forefront of technological development," Gu said at the forum held by People's Daily, a Beijing-based national newspaper group.

"China, our third largest trading partner, is crucial as we enter this new chapter," he said, citing the UK's bilateral trade with China reached 104.5 billion pounds (9.57 billion) in 2019, surpassing 100 billion pounds for the first time and growing more quickly than any other region.

"China, like the United States, has a problem with an uneven distribution of wealth, which can result in social tension and popular resentment toward the moneyed class," Moser says.

"Currently, the flower transportation capability related to the Chinese market is reduced to 10 percent of the normal level. Consumption of flowers, not like daily necessities, is greatly affected during the special period," said Guo Yanchun, the top executive of the Chinese general agent of Netherlands-headquartered flower care producer Chrysal.

"China's push to upgrade its sprawling manufacturing sector could bring new opportunities to foreign companies and more efforts will be made to create an open and transparent business environment for them to invest and do business in China," Miao said.