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"Coca-Cola has been trying to diversify its product portfolio to meet the new consumer demand while in the past it wasn't able to tap into the growth of the dairy sector, which is booming," Yu said.

"China was working to improve flexibility of the RMB exchange rate while maintaining a stable equilibrium. And the RMB has successfully avoided competitive depreciation against other major currencies," he said.

"Chinese regulators have allowed multiple securities, asset management, insurance and other financial firms from the United States, Europe and Japan to convert existing minority positions in joint ventures with Chinese partners to majority foreign-owned firms and have licensed a number of new wholly foreign-owned financial firms," Lardy noted in an analysis.

"Considering a project this big, the investment is intensive and the payoff period is too long, which could introduce many uncertainties to its development," she said.

"China's determination of expanding opening-up and the ongoing reform measures have made China's financial market increasingly appealing to overseas investors," according to a statement on the SAFE's website.