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Construction of the offshore wind power facility is one of GE's commitments in helping develop clean energy in China. The company aims to serve the domestic and regional projects in the Guangdong-Hong Kong-Macao Greater Bay Area, said Duan.

Construction firms are the immediate beneficiary of the mega project, prompting analysts to upgrade the outlook of the sector. Local contractors and engineering consulting firms are expected to benefit from the subcontracts totaling 16.5 billion ringgit.

Consumer spending represents about 66 percent of the US economy.

Consistent job growth, low unemployment and small but steady wage gains suggest continued growth in 2020. US President Trump is expected to run on his economic record as he seeks re-election in November.

Considering China's position in global supply chains, there is still a huge gap to fill in China's logistics services, especially in social economic development and global supply chains, said Liu.