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Chinese Filipino Carlos Chan has been named special envoy to China by three Philippine presidents. He gave himself a Chinese name, Shi Gongxi (施恭旗).

China's wearable market is projected to grow 17.4 percent in 2020, with 47.7 percent growth in the earphone market and 37 percent increase in adults' watch market, according to the report.

China's rail shipments to Europe have shown strong momentum as the country's economy has gradually recovered from the fallout of the coronavirus pandemic.

China's rapidly growing middle-class consumers, increased economic growth and growing urbanization are all factors that contribute to the positive forecast. Since 2000, China's commercial jet fleet has expanded sevenfold, and approximately 25 percent of all aviation growth worldwide in the past decade has come from China.

China's weight will be capped at 10 percent of the Government Bond Index-Emerging Markets global diversified and narrow diversified indexes, the group said in a statement.