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"But the price of the imported hirudin is between 20 and 30 times more than the domestic ones," he said.

"China is probably more advanced in this capability than any other markets. But these opportunities are starting to grow in other markets. So by engaging here in China and learning how to do it here, we are going to export the learning to other markets so that we can be among the first in those markets," he said.

"By doing so, we would have enough measures and resources to defend against the volatility of the global economy in the post-COVID-19 era and speed up our economic recovery as a whole," he said.

"China is in a very different place today than it was some decades ago and is now in a position of global leadership in the technology sector. That's at the core of China's growth model," said David Firestein, inaugural executive director of China Public Policy Center in the University of Texas at Austin.

"But there is still a structural gap between China's services trade and other economies'. The country's per-capita service trade is smaller than many countries," Li said.