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"China was working to improve flexibility of the RMB exchange rate while maintaining a stable equilibrium. And the RMB has successfully avoided competitive depreciation against other major currencies," he said.

"China will not close its doors and will open even wider," Xi said, adding that foreign companies will find China's market "more open, more transparent and more orderly". The large population remains a bonus of China's economy and Chinese market potential is great, he said.

"Company leaders need to focus more on using data for accurate analysis, which can enhance the whole process, ranging from product design and target groups, to marketing tools and after-sale services," Li said at the 2018 iPinYou Artificial Intelligence Conference.

"Compulsory technology transfers are explicitly banned, while we encourage the exchanges of knowledge and technology," he said, ruling out that China forces foreign companies to transfer their technology when considering investments in China.

"Chinese consumers, especially millennials, want to enjoy life... they care about their individuality and love to travel, and when it comes to shopping in both online and offline channels, they have unique tastes," said He Xiaoqing, global partner at A.T. Kearney, the US-based management counseling firm.