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"China welcomes all types of businesses, including foreign ones, to participate in the ownership reform of SOEs," said Xiao Yaqing, chairman of the State-Owned Assets Supervision and Administration Commission, at a media briefing on the sidelines of the 13th National People's Congress, the top legislative body, on March 10.

"Chinese President Xi Jinping mentioned in his report at the 19th National Congress of the Communist Party of China that the country will promote integration of the internet, big data and artificial intelligence to drive the growth in economies, pointing out AI industry will become a new growth point to promote national development," Kwon said.

"Chinese mainland companies will be driven to further innovate and upgrade their products and achieve sustainable and high-quality development," he said.

"Cross-border e-commerce platforms hope to grasp the opportunities arising from the unfading enthusiasm of consumers," said Mo Daiqing, a senior analyst at the Internet Economy Institute, a domestic consultancy.

"China's vision to promote FTZs will play a huge role in attracting foreign capital. The country's economy will be more tenacious with a stable growth on foreign capital and trade, sound infrastructure, labor force and other industrial matching abilities," said Huo Jianguo, vice-chairman of the China Society for WTO Studies.