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Apart from receiving help from the government, many SMEs undertook self-preservation measures during the difficult times. Zhang Yan, general manager of a Shenzhen, Guangdong-based clothing manufacturing enterprise, said that the company undertook several such steps to increase orders and for work resumption. To increase orders, it took advantage of online measures, such as livestreaming promotions, and also took efforts to retain key customers. To motivate the employees during the inactive period, the company offered training and programs to upgrade skills of the employees, before full production resumed in April.

Apart from growing demand for subway projects, water conservation, railways and highways in those markets, Ding said many of the opportunities also come from the surging need for a healthy lifestyle, better food and healthcare products.

Another driver is an ever-expanding demographic that is defined as three-generation travel. This refers to travelers seeking more spacious hotels, with an increasing variety of needs, and more leisure time, unplugging from stressful urban life and relaxing with family and friends, Schroeder said.

Apart from policies to reduce taxes and fees unveiled at the beginning of the year, China has announced more policies to support the real economy and technological innovation, which will help reduce enterprises' burden by more than 1.3 trillion yuan this year, Liu said.

Apart from these five firms, ChemChina's Italian subsidiary Pirelli, the Milan-based tire maker, also sealed deals on future original equipment cooperation with Beijing Electric Vehicle Co and Dongfeng Passenger Vehicle Co.