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"Going global and innovation are the two most important development strategies for our company, and now we feel encouraged, because a lot of government policies are inspiring to companies like us that want to expand overseas business," Shen said.

"From September, the scope will be widened and lengthened; more contemporary history will be taught. The curriculum will become more selective, with a focus on major historical events, while some dynasties may be skipped," Yeung added.

"For more than a decade, selling more vehicles in more countries was the key aim of our global strategy," Wang said. Early success in exports led to robust growth rate, which tempted the company to concentrate on boosting numbers initially, only to shift the focus to quality later.

"Fragrance consumers in China are expanding rapidly from women to both men and women, and the market scale is projected to reach 23.3 billion yuan (.28 billion) in 2018," said Cai Zhihao, a researcher with the Shenzhen-based Qianzhan Industry Research Institute.

"For the physical store chains, they have been unable to keep up with the growth of online retail," Matthew Crabbe, research director for the Asia-Pacific region at consultancy Mintel, told China Daily.