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"Chinese companies are very innovative in e-commerce, mobile payment and sharing economy," she said.

"China's scale dividends are likely to be an important driver of improving the total factor productivity over the next five to 10 years," said Shen Minggao, chief economist at GF Securities, who noted more efforts are needed to drive the transformation and upgrading of the traditional manufacturing industry, enhance its efficiency, as well as improve total factor productivity, in a bid to maintain a relatively rapid GDP growth.

"China wants to make a huge step forward from the mass production level to being one of the leading countries in the field of manufacturing. It has a special focus on innovation and quality, which is what Germany can offer," Obenaus said.

"Compared with traditional brick-and-mortar stores, these online platforms have gained an upper hand in obtaining massive user traffic and their requirements for commodities," said Zhang Shule, an independent commentator in the IT and video game industry.

"China's media shares will be negatively influenced in the short term, but it's a piece of good news in the medium-and long-term that big film and TV stars will be more compliant about paying taxes and good film and TV producers will stand out," Wen said.