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"China's medical equipment industry maintained a 20 percent annual average growth rate in recent years. With the expansion of China's aging population, the healthcare and medical equipment sector will witness robust growth," said Zhao Meimei, general manger of the white goods department at AVC.

"China's audiovisual market is growing rapidly. But now many video platforms are becoming more and more similar to one another which makes them more challenging to user numbers and advertising revenue," said Wei Pengju, director of the Institute of Cultural Economics at the Central University of Finance and Economics in Beijing. Companies in the audiovisual sector are certainly aware of the challenges and are actively seeking solutions. The Xigua video app now targets the new mid-sized video sector to win more users.

"China's automotive industry is entering into a new era, and we will actively strengthen our partnership with Audi and Volkswagen Group as a whole in a more open-minded way and at an even higher level," FAW Chairman Xu Liuping said.

"Clearly, this is an indication that social media has become a major gateway to shopping rather than a mere communication portal," said Koh Yew Hong, managing director and retail lead for Accenture Asia-Pacific.

"Chinese companies will have better access to the global market by showcasing their products online, given that the COVID-19 pandemic has already cast a shadow over global trade," Wu added.