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"Consumer demand for gold products was weakened in the face of a surging gold price last year and an economic slowdown," said Alistair Hewitt, head of market intelligence at the World Gold Council.

"China's urbanization has been further advancing along with the development of the Belt and Road Initiative. It began in coastal areas and eastern city clusters, and then extended to China's midwest regions, leading to the rapid development of a host of lower-tier cities," said Ding from Nielsen China.

"China, however, took a significant lead over India in the agricultural sector by efficient agriculture reforms, policies and technology. Strict rules, strong reforms, incentives and ambitious investments in R & D have helped China," the report said.

"China's catering industry has shown increasing awareness of food safety, and displayed some unique business models thanks to its advanced development of digitalization," said Connell Zhang, executive vice-president and president of Greater China for Ecolab.

"Construction of the offshore pipelines of the Zhoushan LNG receiving terminal will start this year. The first phase of the receiving terminal has a handling capacity of 3 million tons, and will expand to 10 million tons in 2022," said ENN Chief Executive Officer Zhang Yesheng.