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"For instance, oranges, mangos, and high-quality rice from Northeast China have become sought-after items from top-tier cities consumers to those residing in smaller townships and even the rural areas," said Han Dongyuan, senior director of the new agriculture business unit at Pinduoduo.

"Great growth potential lies in consumption upgrades, as people's demand for services of a wider range and higher quality continuously rise," said Zhang, who is also a senior researcher at China Finance 40 Forum, a think tank.

"Global growth is projected at –3.0 percent in 2020, an outcome far worse than during the 2009 global financial crisis," the IMF said in World Economic Outlook released Tuesday. It added that there was "extreme uncertainty", and the situation could get much worse.

"Fundamentally, the network side is as busy as usual (after the ban)," Swantee said. "The base station components of 5G, in particular, are pretty much all coming from Huawei itself."

"Globally, places have weak traditional financial systems, and mobile payments and other non-cash payments are more developed," he said.