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"Fighting counterfeits is a long-term process. We have learned a lot from the likes of Alibaba and imposed stricter fines on unlawful merchants," said Colin Huang, Pinduoduo's founder and chairman, during a media briefing last week.

"For instance, the Foreign Investment Law and the regulation on improving the business environment, which took effect this year, will further simplify compliance and alleviate the challenges faced by the companies," Lee said. "To cushion the novel coronavirus effect, the Chinese government has come out with preferential policies to support the development of hard-hit companies, including foreign firms operating in China."

"Financial regulation may be eased," said Zhang. "Maybe the rules will be delayed for one more year," he said.

"Governments, enterprises, and everyone one of us must fully realize that in advancing digital transformation, security is no longer a vassal, but the foundation," Zhou said at the third Digital China Summit in Fuzhou, Fujian province, which ended on Wednesday.

"First they air their grievances publicly. Then diplomats from both sides will sit down and try to resolve this issue through bilateral negotiations - which is what's happening now," Oh said.