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"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.

"China welcomes all types of businesses, including foreign ones, to participate in the ownership reform of SOEs," said Xiao Yaqing, chairman of the State-Owned Assets Supervision and Administration Commission, at a media briefing on the sidelines of the 13th National People's Congress, the top legislative body, on March 10.

"China's economy is increasingly driven by domestic demand, so it is important that consumer spending has continued to bounce back," Rothman said, adding the improvement in consumer spending and sentiment has come in advance of a full recovery in income, suggesting a fairly high degree of confidence in the future.

"Cruise enterprises and tourists are full of expectations on the new project, which will further broaden the room for tourism consumption," said Xie Xiangxiang, an associate professor of tourism at Hainan University. He said there will also be challenges in securing cruise liners, competitive prices and attractions that well combine cruise services with Hainan's unique maritime resources.

"China will further open up some nonconvertible items under the capital account, and those already convertible will see more liberalized trading," he said.