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"But the US dollar remains the wildcard. If and when the greenback strengthens again, the renminbi will come under renewed pressure, reigniting capital outflows. Then we cannot rule out a further clampdown on outflows, in order to safeguard foreign exchange reserves," he said.

"China is an important market in our downstream growth strategy; this marks the first BP site with our full offer, demonstrating our continued intent to provide charging solutions, fuels, and a high quality retail offer to our consumers," said Tufan Erginbilgic, chief executive, BP Downstream.

"China has talked about reform and opening-up ever since I first started going there in the early 1990s, and they have done a very good job, so now let's keep it up," he said.

"China has low financial risks and the profitability and valuations of the A shares are good," said Starock. "The A share positions of foreign investors are low, and the potential is huge."

"China does not have significant domestic production," Kornbluth said.