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"Chinese customers are not buying PSA's romantic designs as they fail to meet the needs of Chinese consumers," said the sources.

"China's move to open more industries to foreign investment and optimize the business environment will propel more multinational companies to invest in the country. It will not only help bolster the economy and restore growth, but also effectively stabilize global trade and investment."

"Corporate sentiment remains cautious and concerns about policy and market environment still linger. The willingness to restock is still not strong enough. These factors could constrain China's economic recovery, which requires continued policy support," Zhong said.

"Companies in China have stepped up CSR efforts in recent years, but there also is room for further improvement," Zhong said.

"Currently, China ranks in second place globally in terms of the number of international scientific papers published and patents granted for inventions. China has also made breakthroughs and even been at the forefront in some key fields, such as voice recognition and visual recognition technologies."