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"China is an energetic and fast-growing market, and the new generation of luxury consumers are getting younger. We are making changes with the times," Fukuichi told China Daily.

"By the end of 2017, all central SOEs, except financial and cultural ones, will be registered as limited liability companies or joint-equity corporations in accordance with the Company Law, which will accelerate the establishment of an effective and balanced corporate governance structure, based on their legal person status, as well as a flexible and efficient marketized management mechanism," the plan said.

"China has made great achievements in the field due to its clear goals, strategic planning and hard work," he said.

"CapitaLand's business in China has contributed over 40 percent of the group's total profits till now. We are confident about CapitaLand's future development in China, as the country has rolled out supportive policies continuously to improve business environment for foreign companies."

"China is playing an ever significant role in the global market for AkzoNobel, and has become the second biggest strategic market for AkzoNobel," said Luo.