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Another noteworthy contender in the ranking is Mengniu, a Chinese dairy brand growing at a similar pace to Yili. Its brand value rose 45 percent year-on-year, but from a lower base, hitting .4 billion.

Another goal is to incubate more than 1,000 industry clusters worldwide. To this end, Juhuasuan plans to establish a new supply center, bridging upstream farmers and manufacturers with e-commerce merchants, while designing promotional campaigns to help them sell to consumers.

Anyone found breaking the rules must stop working for the firm and the company will be fined based on the seriousness of the offense.

Apart from making it much easier for the company to operate these smart vending machines, the machines can also interact with consumers to enhance their shopping experience by getting them to answer a few light questions in order to obtain a special discount for a certain product, or, they can watch a few seconds of advertisement videos to get a discount.

Anthony J. Leggett, a Nobel Prize winner in physics from Great Britain and now a professor at Shanghai Jiao Tong University, said he was greatly impressed by the earnestness Xi showed at the meeting. He said he was especially impressed to see the president taking notes. "President Xi knows the necessity of bringing in and fully using foreign expertise," Leggett said.