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"China's success in containing the coronavirus and reviving economic activity has been notable," said R. N. Bhaskar, consulting editor of Asia Converge and guest faculty at several institutes in India and overseas, noting that a recent official report on manufacturing showed the Chinese economy is recovering better than expected.

"China's input on research and development rose to the second highest in the world in 2017," said Wan, adding that the number of full-time research and development personnel in China now ranks the highest in the world.

"Chinese companies have gained an upper hand in large-screen LCD displays. Samsung and LG's decision to exit from the LCD sector means Chinese panel makers will take a dominant position in this field," said Li Dongsheng, founder and chairman of Chinese tech giant TCL Technology Group Corp.

"China's push to cultivate innovation-driven growth will inject new life into the country's real economy and fuel the integration of cutting-edge technologies with manufacturing," Qu said.

"Coming from a developing country, you normally see people confined within their villages and they don't know how to take advantage of global trade," Prompoj said. "Rural Taobao is a powerful first step."