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"Chinese startups are gearing up to change the game of starting a business abroad. This is the right time for Chinese startups to venture overseas," said Zhou Wei, founding partner of Beijing-based CCV.

"China started from a relatively low baseline at the beginning of the reform and opening up, but showed an extraordinary willingness to learn and adopt some of the best technologies of the time."

"Chinese consumers are trading up to higher-quality products," Jeff Walters, BCG managing director and co-author of the report said. "Digital technology is one of the underlying drivers that will continue to spur purchases."

"Compared to an eat-in model, the current tea business doesn't require a quality space, and it has become consumers' first choice when they go shopping or traveling," Rong said. "One Hey Tea shop can sell over 2,000 cups a day, with monthly revenue topping 1 million yuan."

"Chinese brands are at the forefront of innovation, and its global brand-builders are helping to establish 'Brand China' as innovative, cutting-edge and pioneering. China's insatiable appetite for new technology is fuelling the growth of many brand categories and powering innovation at an incredible pace," the report said.