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"China has managed to get the pandemic much better under control than Europe and the US. As a result, the retail sector has been recovering much faster in China as consumers feel more secure to be in public spaces and in stores, compared to the countries which are still strongly impacted by the pandemic," said Daniel Langer, CEO of brand strategy firm Equite and a professor of luxury strategy at Pepperdine University.

"China Chengtong will team up with other investors including Baidu, Alibaba and Tencent to help China Unicom develop in cloud computing and big data," Li said. "More important, through the fund investors can share the opportunity to participate in SOE reforms."

"CITIC Capital is confident about the future growth and prospects of the business and we are actively participating in the bidding process," said a Hong Kong-based spokeswoman.

"China is the largest exporting country of crude drugs. In the short term, the total orders might go down, but in the long term, the impact will be transferred to the local pharmaceutical companies in the US," said Shi Lichen, an industry analyst and the founder of a third-party medical services platform.

"China has always encouraged overseas investment, but more needs to be done to ensure it occurs in a more rational manner," said Pan Gongsheng, head of the State Administration of Foreign Exchange.