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"Foreign managers bring a unique set of experience and skill to the Chinese asset management industry, particularly in areas such as quantitative investment. Having a wider set of local and foreign managers managing different strategies in China increases the choice available to investors and, most importantly, it allows investors to diversify their investments," Steel said.

"Given the rising external uncertainties and the possibility of escalating tensions with the US, structural reforms to broaden the home market and boost domestic demand will help China offset some negative impact from a deteriorating external environment and shrinking external demand," Zhang Ming, an economist at the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, said in a research note.

"Global investors may no longer regard China as a manufacturing base with low-cost labor, but a strategically important consumer market," Shen said, citing that future growth in inbound M&A investment may mainly come from consumer goods sectors, instead of export-oriented factories.

"For all foreign financial institutions in China, the world's second-largest credit market is definitely appealing and will inspire a wider array of cooperative models and tailored products among domestic and local players," Lai said.

"For 20 years we cleaned that cemetery and probed every square foot with probes and metal detectors," an emotional Perrone said. "For 20 years we never found a thing. Then came this iron, announcing its existence to us on the very morning after we dedicated a monument to early Chinese immigrants who first came in 1870, brought by a retired sea captain, James Hervey, to work at what was then the country's largest commercial laundry."