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COVID-19 has altered the online shopping habits of elderly consumers. For instance, an increasing proportion of the demographic shows more willingness to order food on Hema Fresh, a grocery chain backed by e-commerce giant Alibaba.

COVID-19 does have some effects on foreign businesses operating in China, said Zhang, but there is no flight of foreign capital. "China is still an attractive destination for foreign investment. Foreign investors remain optimistic about China, and remain confident in their long-term operation in the country."

Called the Gateway 17, the conference will be held on June 20-21 and is expected to attract more than 1,000 US businesses, the company said in a statement. Ma will speak at the event.

CMG is a leading State-owned conglomerate headquartered in Hong Kong, under direct supervision of the State-owned Assets Supervision and Administration Commission of the State Council.

Calling China-Africa cooperation a forward-looking partnership, he said it involves not only the challenges of the present but preparing for the opportunities of the future.