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"Cutting capacity has (helped boost) steel demand," Chen said. "But without a strong need for steel, strict environmental protection policies cannot account for the price rise."

"Currently the vegan industry is export-oriented, for example, Shuangta Food's major food market is based abroad," he said, adding that domestic companies see man-made food as one single product instead of a complete industry.

"Chinese companies are really able to grow very quickly and a lot of them are very large. If we can make these companies our customers, it will generate handsome business volume," he said. "Chinese customers are learning quickly. They are very interested in learning innovative content and from other organizations."

"China's new era development model provides inspiration to other countries," Yu said.

"Companies are facing challenges because most of them lack the core competitiveness. It's a good thing for the market to decide who can survive and who should be kicked out," he said.