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Another welcome sign of change reflected in the PMI is further improvement in the index for small and medium-sized enterprises, indicating the improving internal strength of the economy.

Another highlight of the brand's strategy will be autonomous driving.

Apart from enlarging market channels related to the BRI, the imports and exports of private companies soared 11.2 percent year-on-year to 8.49 trillion yuan between January and August, accounting for 42.2 percent of the total value of China's foreign trade, about 7.6 percentage points higher than the overall growth rate of China's foreign trade in the same period, according to the GAC data.

Another notable restaurant group that made its foray into Shanghai is Putien. The restaurant chain, which boasts having a Michelin star for its Kitchener Road outlet in Singapore, currently has seven branches in Shanghai. Renowned pork ribs soup restaurant Song Fa Bak Kut has also been steadily expanding its presence, with five outlets in prime locations.

Apart from dealing with economic sustainability, high-quality development also means socially and environmentally sustainable development, said Yukon Huang, senior fellow of the Asia Program at the Carnegie Endowment for International Peace.