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"Hainan is China's pilot zone for deepening reform and the high ground for opening up," said Dong Debiao, general manager of Deloitte China's Hainan office. "Hainan boasts a vast market, which will facilitate Deloitte's innovative projects."

"From a long-term perspective, population determines economic growth. Even though it will take some time, the number of consumers determines the potential of economic development in both developed and developing economies," he said.

"For hydrogen to play a significant role in decarbonization, the industry will need to transform upstream and expand significantly downstream. Hydrogen production will need to move to zero or low carbon processes, and consumption will need to expand to new sectors where fossil fuels are dominant," Xiao said.

"Google has a lock on search, processing about 90 percent of all web searches around the world."

"For multinational corporations, more decentralized decision-making at the country level, faster rollout of products, and more localized endeavors to stay tuned to customers' needs are some of the decisive factors for their outperformance," Jason Yu, managing director of Kantar Worldpanel and one of the authors of the report, said. For instance, the role of e-commerce has moved from the periphery to the forefront in many businesses of multinational brands in China.