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"Canva has put the Chinese market high on its agenda, which will enable the company to localize in the country," said Shen Nanpeng, founding and managing partner of Sequoia China.

"Chile is growing well in the market, due to a good price point and customer preference. For Chinese consumers, Chilean wines are highly cost-effective. In the past few years, Chilean producers have also reacted well to consumers' preference, such as introducing good design and packaging options," he said.

"But there are still huge gaps between SMEs and large enterprises, in digital strategy, talent, technology and capability. During the pandemic, the need to go digital has become even more pressing than ever. We want to use the information and communications technology to help European SMEs stay competitive. We want to help them go global," Li said at the second round of Huawei European Innovation Day 2020, an event held online in Germany.

"But the country has a weak voice in industrial software, which requires long-term effort for fundamental and comprehensive research as well as hefty capital investment. We should have the determination to develop such software over years or decades," Chen said.

"But those who survive will be very excellent, just like the survivors in the mobile phone sector."