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"Chinese shoppers, in particular those born in the 1980s and 1990s, love living a comfortable life ... they like traveling, care about their individuality, and have different pursuits to match their lifestyle," said He Xiaoqing, global partner at A.T. Kearney, the US-based management counseling firm.

"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."

"Collaborations like this are very critical, because together we'll be able to get there faster," said Hua. "I think American startups certainly should be going to China to exploit the opportunities to get funding or partnerships."

"China's economic restructuring may not have a major adverse effect on the supply and demand side of the economy," Zhang said.

"Cultural companies were absent from the IPO deals in the TMT sector, indicating the sector's development is imbalanced. But with the new guideline, it can be predicted that there will be more cultural companies going public in 2019," said Wang.