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"By concentrating on selling online, foreign FMCG companies have gained traction in China without the need to build a complex physical route to market model," said Jason Yu, managing director of Kantar Worldpanel Greater China, who is also a co-author of the report.

"Chargedot was one of the first high-tech enterprises in China to focus on new energy vehicle charging solutions. By joining with ABB, we will be positioned strongly to make the next big leap forward," said Mao Chunhua, CEO of Chargedot.

"China has a significant market growth potential of its 5G network and it has been leading the development of 5G. This year, 5G will cover 50 cities, and about 300 cities will get 5G connections next year. In the year after that, the connection is likely to be available nationwide," said Xiang Ligang, a telecom expert and chief executive of industry website Cctime.

"By lowering gross profit margins and special offerings from the brands, One Jewelry aims to sell the same items at the same price as in home markets such as the United States or Europe," he said.

"By the end of August, we are expecting to open 200 more Bingobox stores," said Chen Zilin, CEO of Bingobox.