Xiao Hong, CEO of Chinese movie and gaming company Perfect World, said the success of enterprises is standing on the shoulders of China's economic development.

"China's cultural and creative industry would not thrive if there was no reform and opening-up. From 2008 to 2017, the domestic gaming market expanded by 11 to 12 times and the film market also grew by 13 to 14 times. Only when the market is big enough there could emerge successful companies," Xiao put it.

He said as the rise of China's economic power and international influence has laid the foundation for enterprises to grow and expand overseas, the success of enterprises will improve the country's soft power in turn, he said.

The Summer Davos forum is themed as "Shaping Innovative Societies in the Fourth Industrial Revolution" this year. Xiao said as the fourth industrial revolution is arriving, Chinese internet enterprises can bring the best products, excellent culture and unique business models to the world.

He believed more Chinese companies are able to offer world-class products with a reflection of Chinese excellent culture that can touch common people in the world.