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"But more robust governance and new operating models will be needed to realize AI's full potential and underpin all the opportunities it brings," said Jim Woods, an consultant for global risk assurance at PwC.

"By the end of June, China has some 12,000 recycling points for disposed packages, and boasts about 20,000 new energy vehicles," he said, adding that over 96 percent of express delivery orders are now placed through a paperless, electronic logging system.

"Canceling an item or relaxing a regulation on the negative list showcases China's efforts to further open up a new field, which can continuously attract more international resources to flow into the nation's sprawling manufacturing industry," Wang said.

"China is willing to share growth opportunities with the rest of the world. Honeywell has invested heavily in China, and we are picking winners," he said.

"But people don't eat special foods for each term," he says.