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Data from consulting firm iResearch shows China's fresh food e-commerce trading volume exceeded 200 billion yuan (.4 billion) last year, and the number is expected to soar to 705.4 billion in 2022, representing huge market potential.

Data showed 68 percent of the conference participants were from small businesses with fewer than 50 employees.

Dai said three Chinese giants Baidu Inc, Alibaba and Tencent, collectively known as BAT, are on the list, as the three video streaming apps developed by the three companies－iQiyi, Youku and Tencent Video－have flourished in China, mainly fueled by the growth of paid membership fees.

Data shows that in 2019, the global auto chip market was worth around .5 billion. While China's auto chip industry was valued at less than 15 billion yuan (.29 billion), accounting for around 4.5 percent of the global total.

Data from the mid-year online shopping festival echoed the rebound. E-commerce platform Suning saw orders for pan-FMCG products surge over 240 percent during the promotion period.