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"Cooperation is necessary in this aspect. You know smart cars are difficult for one carmaker to develop no matter how big, and carmakers will feel a little worried if they rely too much on platforms of tech giants like Google or Baidu."

"Chinese consumers are shopping across seven different store types and we believe there are still opportunities for brick and mortar retailers," said Jason Yu, general manager of Kantar Worldpanel China. The key is how the retailers adjust to the changes in China and revise their store formats and accelerate digitalization.

"China's e-commerce grew because it believed in the entrepreneurs," said Ma, adding that "first innovation, and then policies to facilitate entrepreneurism."

"China's recovery is for real," the report said, although the recovery remains unbalanced to some extent and still lacks self-sustaining factors.

"Continued government backing, infrastructural support and regional economic development are generally considered the top three important factors to its success," he said.