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"Compared to the demands of application scenarios for AI algorithms, the supply is less than 1 percent," Yin said. That is especially the case when it comes to facial recognition technology's application industries such as transportation and finance, which have stringent demands for precision, security and safety.

"China's current financial system mainly consisted of banks serving an economy dominated by the manufacturing sector. Looking ahead, however, the services sector, especially technological innovation enterprises, will become the driver of the Chinese economy," Hong said.

"Companies are seeing their gap widening in brand recognition and sales. Some are struggling and on the verge of bankruptcy," Chen said at a press conference last week in Beijing.

"Compared with many startups, we have respect for traditional brands; and compared with traditional brands, we have respect for startups, especially with their internet-based mentality, which focuses on customers," Niu said.

"China-made vehicles are now able to compete in global markets to serve consumers worldwide," he said.