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"Co-working spaces shouldn't rely completely on rent," Mao said.

"China's income growth remains at the same level of mid-income countries and it still has a lot of potential to develop," he told another forum held by the Institute of Economics of the CASS on Friday.

"Cultural exchanges, the best way to promote mutual understanding, are the basis for interconnectivity and cooperation in infrastructure, policy, trade and finance," said Zhou Hanming, member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference and vice-chairman of the CPPCC Shanghai committee, during an international expo and forum.

"Clearly, this is an aggressive move by Uber to take out a competitor and further consolidate its market position," Ives said in a research report. "Especially as the COVID-19 pandemic continues to shift more of a focus to deliveries vs. ride-sharing in the near term."

"China will clean up existing laws and regulations that go against pre-establishment national treatment, while expediting the making of detailed regulations by the end of this year," Zhang said. Pre-establishment national treatment means foreign investors are treated the same as their domestic counterparts before and during the approval process.