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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 has fully opened up its manufacturing sector, and the level of opening-up in services, including the financial sector, is being stepped up," he said.

"China is opening its doors wider and wider to the world, providing fellow developing countries with more and more market opportunities," Hu said.

"But the model Mobike released on Thursday is powered by a combination of pedal power and batteries. The battery is designed to help consumers better ride bicycles, which can limit the maximum speed and lower the accident risks," Yang said.

"China is being pressured from both sides," an unidentified MIIT official told Xinhua. "Advanced economies such as the United States, Germany and Japan have all formulated policies supporting further development of their own manufacturing. At the same time, emerging economies such as India and Brazil are catching up with their own advantages."