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"Chinese regulators have allowed multiple securities, asset management, insurance, and other financial firms from the United States, Europe, and Japan to convert existing minority positions in joint ventures with Chinese partners to majority foreign-owned firms and have licensed a number of new wholly foreign-owned financial firms," Lardy noted in an analysis.

"Compared with the service sector which was dealt the heaviest blow by the contagion, manufacturing activities are quickly regaining momentum. This will help mitigate the overall negative impact on the local economy," Deng said.

"China's unprecedented economic growth over the past 40 years is a testament to the importance of an economy embracing global business and international markets. Over the past half century, China has transitioned from a closed, agriculture-based economy to one that is vibrant and deeply connected across virtually every sector in the world," she said.

"Consumers pay high prices for customized produce to ensure safety. But the industry is still in the early stages. There are both good and bad producers," said Zhao Yumin, secretary-general of Jilin Specialty Products Processing Association.

"Culture export includes the responsibility of cultural communication between different countries and also bears economic significance, helping enhance the soft power of a country," he said.