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"Currently, Africa's economy is based on agriculture and mining, while the manufacturing industry's share in GDP is declining. African countries have generally recognized the importance of economic restructuring, but steering the economy away from agriculture toward industry is easier said than done," Lin wrote in China Financial and Economic News in 2016.

"China will find other countries, replacing the US, to export goods, and the strategic adjustment is on the right path," he said.

"Consumers go to our physical store. They also purchase through mobile phones and other digital devices. About 90 percent of Chinese consumers touch digital points before they visit physical stores," said Rorsted.

"Collaboration is of mutual benefit to our company and the academic world," Gao said. "We offer business insight and data, while the schools provide cutting-edge research and expertise.

"Cross-border e-commerce can be an ideal way for foreign companies to debut in China thanks to easier access, lower costs and reduced time for market entrance," said Zhang Tianbing, Deloitte Asia-Pacific consumer products and retail industry leader.