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"China's ban is crucial for elephants," said Peter Knights, executive director of WildAid, a nonprofit organization based in the United States.

"Customers are no longer categorized in traditional silos like age groups or professions, but the true 'social circles' they belong to," she said. "The troves of data are critical to constructing content and marketing to make our offerings unique."

"China will briskly foster new growth drivers, improve technological innovation, push for upgrades of traditional sectors, and foster innovative, leading businesses," according to a statement of the key meeting.

"Chinese enterprises are looking at the technologies available－whether it's artificial intelligence, big data or the like－to actually come up with whole-new business models and whole-new approaches to doing things, not just improving the old processes."

"Chinese consumers have already developed the habit of buying almost everything online. The expensive, large-size home appliances can now also be bought with a mouse click, with e-commerce companies building trust with consumers and offering free installation services," said Lu Zhenwang, CEO of Shanghai-based Wanqing Consultancy.