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"But the situation, I believe, will change, if the blacklist regulation, a bigger threat, takes effect."

"China is moving to two credible 'ecosystems' that are both trying to provide as wide a range of services as possible to customers," said Richard McKenzie, partner at global consultancy Oliver Wyman.

"China has already succeeded in e-commerce and digital economy. Such experiences can be replicated in BRI economies," said Jing Xiandong, Ant Financial's executive chairman.

"But there are also many problems, like blindly building theme parks and shopping galas that are all alike, or turning tourism-related businesses into real estate projects. Going forward, villages and counties like Xihewan and Tianpudawan can cooperate with institutes and universities, as well as companies, to leverage various sources for better development," Zhou added.

"China has signed 18 regional trade agreements involving 64 trading partners. But many companies have said they haven't made full use of the FTAs simply because they do not understand whether their goods are eligible for preferential tax rates," said Shang Yuying, director of the Shanghai Commerce Commission.