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And rising demand for such exclusive services and high-end products is a clear sign that China's consumption upgrade is gathering steam, experts said.

Andrew McAfee, best-selling author and co-founder of the Massachusetts Institute of Technology's Initiative on the Digital Economy, said developments in data, algorithms, networks, cloud, and digital hardware have unleashed a wave of innovation that is "rewriting the business playbook" at the Intel Shift 2017 event in New York on Tuesday. Paul Welitzkin/China Daily

Analysts believe that China has huge potential in developing hydrogen energy and China's development of the hydrogen industry is also in accordance with the global strategy on energy transmission.

And through an official account, "companies can broadcast messages and articles to their followers like a blog, but brands and service providers can also use these accounts to serve customers", Tang said.

Analysts said the Philippines has a strong fiscal position and they expect the government will use it to mitigate the impact of the pandemic on the country's economy. The Philippines' GDP contracted by 0.2 percent in the first quarter and the country's economic managers forecast that this year's GDP might decline as much as 3.4 percent－the first contraction in more than 20 years.