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"Domestic circulation", or the internal cycle of production, distribution and consumption, will be the mainstay of economic development while the domestic market is integrated with "international circulation" to promote the smooth two-way flow of goods and capital.

"E-commerce accounted for 40 percent of e-business around the globe in 2017, and with our robust momentum, China is likely to account for half of e-businesses worldwide within one or two years," Ouyang said.

"Even from 2017 to 2019, we've seen a huge jump. Chinese customers are much more open than the rest of the world to have different ways of propulsion," said Marco Hecker, Deloitte China automotive sector leader. "Connectivity is really the driver of decision-making (in car purchases)," he said.

"During my time in the Oregon Legislature, I organized many legislative leadership, friendship and trade missions to China because I knew that personal contacts were essential in increasing understanding, friendship, trust, trade and mutual prosperity," she said.

"During our survey on fintech companies, we found that the financial sector has stepped up the promotion of big data technologies in China, as big data analytics has gained wide recognition regarding its capabilities to increase financial productivity," said Arthur Wang, partner and head of banking at KPMG China.