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And in the coming five years, "China is expected to import eight trillion US dollars of goods, attract 0 billion of foreign investment and make 0 billion of outbound investment," Ma added.

Angiola Rucci, project manager with event organizing company Triumph Asia, a unit of Italy-based Triumph Group International, said the initiative has fueled two-way exchanges between China and Europe, supporting their business.

Analysts said luxury goods producers such as jewelry retailers are well placed to benefit from China's upgraded consumption.

Analysts have said Ford may be less likely to agree to a signing bonus as large as GM's, and it may want to trim some engine and transmission factory capacity. The company may also have been reluctant to agree to paying new hires full wages within four years as GM did. Ford has about 18,500 workers hired after 2007 who would get big pay raises, compared with GM's 17,000.

Analysts suggested more mergers and acquisitions are going to take place in the sector in the coming three to five years.