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Analysts expect the country's consumption to be shaped by a booming middle-income group, fast urbanization and technology advances, among other trends, in the coming years.

And this is especially so when it comes to company brands. Apps including WeChat and websites such as Alibaba are now firmly at the forefront of the Western public’s consciousness, whether they have downloaded them on their phones or not. Anecdotal reports lauding the connection quality of WeChat video communication over traditional options such as Skype also occasionally pop their head up. With 889 million users, such apps are hard to ignore, even if they are predominantly used on the other side of the world.

And while the regulator still has points to finalize, it is aiming to release the list in the first half of next year, they said.

And he said it is a matter of time before the mobile payment systems that are ubiquitous in China catch on in the West.

Anhui Jianghuai Automobile Co, or JAC Motors, is one example of a domestic manufacturer that has shifted its business model towards the future and is developing into the new automotive business environment.