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"Competent departments must work jointly to enhance oversight and treat foreign and domestic businesses as equals," Li said.

"Currently most consumption in China is focused on products, such as food, garments and healthcare products and there is little consumption for services, showing that China's consumption growth is still in its initial stage, with considerable room for growth," said Fan.

"China was our fastest-growing export market," said Comfort. "We've worked on building those relationships for two decades. Now all of that time is basically a loss."

"China's rapid growth has spurred the consumption upgrade, with customers requiring constantly innovative solutions for the future," said Stephen Shafer, president of 3M Greater China. "As we embark on a journey towards success, design plays an instrumental role in helping to fulfill our competitive advantage."

"China's economic restructuring can be seen in the rising contributions of consumption and services to GDP," he said, adding strong domestic consumption has not only strengthened the country's markets but also stimulated both multinationals and domestic companies to shift the emphasis of their operations from 'Made in China' to 'Made for China'.