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Apart from introducing new brands and products to the Chinese market, Fonterra is using the CIIE to sign agreements with local partners. According to Chow, livestreaming stands to amplify the influence of these newly-formed partnerships and raise the awareness of those domestic labels that might not necessarily qualify as an "import" exhibitor to make it to the event.

Ankur Bordia, director of Valentine Jewels (HK), said it would be good for her business once the 14-day quarantine requirement is lifted.

Apart from the two newly formed entities, Tencent now runs other four business groups: Corporate Development Group; Interactive Entertainment Group; Weixin Group; and Advertising, Technology and Engineering Group.

Another particularly bright spot is the development of the sharing economy in manufacturing. In 2017, more than 200,000 companies were offering services via platforms that share production capacity, industrial design and other capabilities. The trend has created a market worth 412 billion yuan in the past year.

Answering a question from China Daily, he said the world is facing some challenges, particularly from the protectionism of some countries that are putting their own narrow interests ahead of cooperation.