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"Chinese brands have made great strides in improving car quality and after-sales service, sometimes even outperforming certain global brands," he said, adding that many of its exported vehicles were shipped from Chongqing to the Port of Shanghai via inland river transportation.

"China was the first country to fully recover," said Molnar. "That has a very big importance for the world because it means the second biggest economy in the world has recovered. This means a huge source of demand for all the other countries."

"Confidence in domestic dairy brands among the public is recovering but still requires a solid foundation," Song said.

"Compared with consumers in other markets, we found that Chinese customers are incredibly inquisitive and hungry for information. They want to embrace new technologies and are fairly open to disruptive products," he said, stressing that with the rapid development of intelligent technology, the smart home has become an industry trend.

"Consumers in second-tier cities or even smaller ones usually have more spare income, as they are free from the pressures of housing and children's education compared with those in first-tier cities," said Jin Guangyang, CEO at Reindeer Beauty, a franchised cosmetic procedure clinic established earlier this year focusing on medium-to-small cities.