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"China was the good surprise of the past year with a sharp increase in our exports," said Jean-Daniel Pasche, president of the Swiss Watch Industry Federation, adding the market still presents a "strong potential for growth".

"Chinese investors' footprint is spreading across five continents, focusing on not only 'going out' but also upgrading businesses to higher end of the value chain," said Loletta Chow, global leader of EY's China Overseas Investment Network, at a news conference on Thursday.

"Creating a new chilled milk brand for Chinese consumers will enable them to upgrade their dairy consumption," said the statement, without elaborating on the details of the new product or the brand, nor the size of the investment.

"China's moves to tighten its credit system are admirably in tune with its efforts to advance reform and opening-up and develop the Belt and Road Initiative with other international partners," said Wang Jun, a researcher at the China Center for International Economic Exchanges.

"Considering the structural price rise, it is unlikely to see China heading for stagflation in 2020," Cheng said.