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"Despite having adjusted our business to produce more invoices for domestic companies, universities and local tax offices to mitigate the dropping order impact caused by the COVID-19 pandemic, the online Canton Fair this year could help us revive the export business," Fang said, adding that his factory with 200 staff only managed to ship five containers of notebooks, diaries and calendars to overseas markets so far this year, with exports down compared to previous years.

"Excluding rent, our daily staff salaries, utility bills and other expenses are between 12,000 and 13,000 yuan (,714-,857). If this situation continues for 2-3 months, the hotel's cash flow will be under great strain," Zhou said.

"Declining sales growth does not mean we are experiencing consumption downgrading," an industry expert said. "In fact, sales growth of luxury cars and joint venture-branded cars are still much higher than that of Chinese-branded cars with lower price tags."

"Despite challenges with COVID-19, 19 out of the top 22 companies in China grew their shopper base, demonstrating there are ample growth opportunities for even the biggest players," said Jason Yu, general manager of Kantar Worldpanel Greater China.

"Due to quarantine policies, I cannot attend this year's CIIE," Jiang says sullenly. "But our distribution partners in China may attend the fair."