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"China's IP system is very advanced. Almost all of the requests that the Western countries made in the 1980s and 1990s in the IP area have been met. So this is actually a very positive feature," he said.

"Chinese mothers who were born after 1990 have become the main consumers of maternal and baby products, and they are more willing to pay for professional and quality-guaranteed products and services. The traditional product-to-store model cannot adapt to the new development trend," said Zhang Yuan, brand representative of D-Cal.

"China still has the best production supply chain of anybody in the world, and as it turned out, they were able to tackle the pandemic faster and more efficiently than anybody else," he said.

"Criminals today are using more complicated methods and becoming better hidden, which adds more difficulties to our investigation," Chen said.

"Convergence is blurring the lines between industries and business models as we move toward a truly digital economy at lightning speed," said Greg Cudahy, global TMT leader of at EY.