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"Carrefour's strong supply chain, rich offline operational experience and brand awareness, and Suning's extensive logistics networks and technology will be combined to further streamline our online-to-offline layout and efficiently reduce costs in sourcing and logistics in order to raise market competitiveness and profitability."

"China is playing an increasingly important role due to the sale of hearing solutions via private specialist stores and retail chains, he said, adding the country shows a vast potential in market penetration as an estimated 70 million people in the country suffer from hearing loss, but a mere 5 percent own hearing aids.

"But no one can be optimistic about how long the current mood for dialogue will last", he said.

"China has a firm stance to promote globalization amid protectionism threats," said Yuan Feng, head of the foreign investment department of the National Development and Reform Commission. "Recent efforts to ease or cancel existing restrictions on foreign investment in many fields demonstrate our determined willingness to continue promotion of opening-up."

"China is also becoming more open to foreign companies," said Ravi Shankar Bose, founder of mobile marketing firm Fugu Mobile, which chose China as its first overseas market.