Addressing the 2nd Asian Logistics and Maritime Conference, Price said China's e-commerce companies are facing a big challenge stemming from the lack of efficient and reliable last-mile delivery.

However, Price said China's emerging e-commerce market is bringing "tremendous opportunities" as the rising middle class in the country generates strong purchasing strength.

The emerging online shopping in China is a good example as one e-commerce market driver, Price said, adding that Walmart's recent acquisition of a Chinese online player "Yihaodian" implied their appetite for that market.

In addition, Price said e-commerce also needs to cater to the increasing customers demand as the availability of products online is becoming "massive", while technology is another important factor with the quickly emerging mobile devices becoming a powerful mechanism for e-commerce.

Price said currently there are not a lot of Chinese e-commerce players that are making money as the market is still not mature, and he expects a couple of years of "interesting development" in the market until the whole process shapes out.