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"China is removing the cap on overseas ownership of joint ventures in the country. The progress has already been seen in the automobile sector. The telecoms industry is highly likely to be the next one to benefit from the change," Fu added.

"China has become a core priority for Ferrero in terms of growth, and we are fully confident in the prospects of China as the world's fastest-growing consumption market. With the acceleration of urbanization and expansion of the middle class, the size of the consumption group and their needs have been continuously increasing," he said.

"Chief among them are political and social instability, closed borders limiting the movement of people and capital, an unfavorable business environment, difficulties in accessing credit by small and medium-sized businesses, disruptive technologies, harsh weather and lack of infrastructure," says Robert Kagiri, a lecturer at the Institute of Diplomacy and International Studies at the University of Nairobi in Kenya.

"But we have worked hard to have a better picture of local consumers' product preferences, and scrambled to localize our products and marketing strategy," Li said.

"China has benefited a lot from opening up in the past ... to continue that path of opening up is, we feel, very good for China," he said.