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Chinese venture capital company Sequoia China is injecting cash into a United Kingdom biotech company that is trialing a "universal" vaccine that promises to protect against all major types of flu.

Citing the Regional Comprehensive Economic Partnership (RCEP) and China's Belt and Road Initiative as two key factors aside from the Association of Southeast Asian Nations (ASEAN)'s Economic Community (AEC), Fitch Group unit BMI Research said such elements will bring the region closer together and fuel growth in the coming years.

Chinese usually save to pay out of their own pocket for retirement, education and healthcare. Despite the booming consumerism in China today, conservative spending habits are deeply ingrained in their culture, he added.

Clarke said Ocado will also look to deliver the platform to a wide range of companies because the technology is not limited to grocery orders.

Chinese search engine Sogou is further developing the smart hardware business with a focus on language-centric artificial intelligence, aiming to gain a key edge in the burgeoning AI market.