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"China's strong performance on the Midas List demonstrates that the country is continuing to produce a number of high-growth and highly-valued companies. While sometimes unknown in the US, these businesses can become globally significant, such as with Bytedance, the owner of popular app TikTok (known as Douyin in China), and they generate returns any venture capitalist would desire," added Konrad.

"Consumer behaviors are analyzed through e-commerce platforms as the tech giants are fully capable of launching big data analysis," said Wang.

"Chongqing's more and more sophisticated processing trade has significantly contributed to the city's foreign trade growth," said Li.

"Considering that the two accidents took place after new Boeing 737 MAX 8s were delivered, and went down just minutes after taking off, within five months of each other, they have some degree of similarity," the administration said in its statement. The administration grounded all Chinese Boeing 737 MAX 8 jets on March 11.

"Compared to road transport, the trains are much faster and can help save costs for the companies," said Zhang Haixia, chief operating officer with Xinjiang Hongyunda international freight transport agency.