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"Bytedance already has multiple short video and live streaming products. What Vscene can add is the VR technology so as to upgrade the live streaming experience and enhance the level of engagement," said Wang Xiaofeng, senior analyst at consultancy Forrester.

"China is such an exciting market for us as we are seeing a huge increase in the awareness of the importance of oral care. A generation ago Chinese consumers would only see a dentist when they had problems, now people are more proactive and take better care of themselves and their families," he said.

"By highlighting various sectors, these internet giants are competing for the portal to keep existing users and acquire new ones," Wang added.

"China has great potential in the consumer genomics testing sector. Compared with that of some developed countries, the market is still in its infancy in the nation," said Danny Yeung, co-founder and CEO of CircleDNA, a Chinese consumer genomics testing startup.

"China is willing to work with the international community to safeguard the international system with the UN at its core and an international law-based order, advocate the principle of achieving shared growth through discussion, and collaboration in global governance, " Li said, also expressing China's commitment to contribute to the reform of the global governance system in the right direction and safeguard international equity and justice.