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"Due to its improved consumption structure, rising labor costs and population ageing, prices of education, medical services and household services have all risen continually," he said.

"Despite the significant growth in profits, we still face mounting downward pressure," Zhu added. "There's uncertainty around industrial profits, which will be affected by multiple factors, such as market demand and industrial product prices."

"Data is really what we are offering as a company," says Miller, adding that such information gives their staff a "huge advantage".

"Domestic brands have the ability to compete with foreign brands, which was difficult in the past," said Gao Guohua, chairman of State Development & Investment Corp Ltd.

"Digital technology has improved significantly. We have accumulated a lot of experience and a lot of so-called infrastructure for emerging industries… there are signs that the country is ready to invest, in the digital transformation of traditional industries, including services transformation, information management and intelligent manufacturing," Zhang said.