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"China's AI industry is leading in applications compared with other countries," said Yuan. "We lack innovation in ideas since there exists a large gap between research institutes and enterprises."

"Chinese consumers embark on a journey of exploration and discoverythey go online to see what's new or trending, and they interact with fellow buyerssometimes many times a day," according to Chris Biggs, a partner at BCG who leads the digital retail business.

"China's wide-ranging know-how and experience when it comes to the construction of hydroelectric plants is second to none given the nation had already installed 313 gW by the end of 2017," said Joseph Jacobelli, a senior analyst of Asian utilities at Bloomberg.

"Companies from new and emerging sectors will be the key clients that we are seeking to obtain. We will focus on good quality companies with strong technological advantage and strong profitability potential," it added.

"China sees us as a country which has its own interests at heart and one which does not go out of its way to antagonize others," he said.