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"But such a seemingly booming scene of 'luxuriant foliage' is, in fact, very dangerous, and it can be upended in an instant, because it is not supported by 'deep roots' under the ground," he said, referring to the lack of homegrown core technologies such as high-end chip manufacturing techniques.

"China and Bulgaria have maintained healthy business ties, especially in the energy and agriculture sectors," said Emil Karanikolov, the economy minister of Bulgaria. "But we don't want to stop there because we can have more possibilities. We want to attract more goods and improve the infrastructure for logistics and communication." According to Commerce Ministry data, the trading volume between China and 16 CEE countries reached .98 billion in 2017, up 15.9 percent year-on-year. China exported goods worth .4 billion and imported products worth .5 billion from CEE countries during the period, up 13.1 percent and 24 percent respectively, compared to 2016.

"China needs to focus on companies' independent research and development ability, while encouraging capable businesses to develop abroad, make best use of global resources and map out the global industrial chain," said Lin Zhongqin, president of Shanghai Jiaotong University,

"Changsha has a largely undervalued real estate market and the restrictive policy will help curb housing speculation," Yan added. "The previous restrictive policy targeted individual buyers, but companies were not directly affected."

"But our pressure is far less than the small- and medium-sized service providers. Their difficulty affects the entire industry," said Liang.