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"China for us is a relatively small part of our business so it really represents a significant opportunity. What we're working on is how to unlock that opportunity for us. So we saw a drop in the Chinese market for the first time in 30 years, something like that, last year. This year, I think they're going to be flat and they'll still be number one in the world," he said.

"China firmly opposes that," he said in a statement. "China has lodged solemn complaints with the US side through multiple channels, and China will assess its losses caused by the US measures, as well as take strong actions to ensure its legitimate interests."

"China is such an exciting market for us as we are seeing a huge increase in the awareness of the importance of oral care. A generation ago Chinese consumers would only see a dentist when they had problems, now people are more proactive and take better care of themselves and their families," he said.

"Carrefour is seeing more recovery lately, as they are making efforts to move from (a) hypermarket only model to a multi-format strategy by opening more Easy Carrefour and launching compact hypermarkets," said Jason Yu, general manager of Kantar Worldpanel. However, on e-commerce, Walmart and RT-Mart are likely to get upper hand with the JD and Alibaba alliance," he said.

"China has started relatively late in the development of commercial endowment insurance and thus lacks enough experience. It is important to learn from advanced acquired experience worldwide, continue to open up our insurance sector, and in this process, develop our own commercial endowment insurance to meet the needs of an aging society," Li said.