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"Chinese tourists remain Australia's biggest spenders, pumping a record .4 billion (.17 billion) - a 14 percent increase from last year - into the economy," Australian Minister for Trade and Tourism Steven Ciobo said in a media release on Wednesday.

"China's (per acre) production in the agriculture sector is three-times higher than that of Pakistan, we want to adopt their technology and for this, we have signed a Memorandum of Understanding with China," said the prime minister.

"China's diplomacy has made remarkable progress," he said.

"Chinese shoppers have long used their phones to buy almost everything they need, and many retailers are struggling to stay afloat during the pandemic. There's clearly demand from both sides, and we just need to create a bit of catalyst. That's where Key Opinion Leaders, or KOLs, come in," Cao said.

"China's VC and PE market is becoming more rational and we estimate that the investment firms will become more targeted in their deals rather than simply chasing volume," said Jay Chen, founder and CEO of CVInfo and managing partner of CVCapital, an emerging investment bank.