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"Cloud computing is a significant support platform for the IoT," said Song Hongming, senior marketing director of Huayun Data Group, a Chinese unicorn company that provides cloud services for over 300,000 businesses in the fields of traffic management, finance, education and manufacturing.

"China's principle of adhering to mutual respect and treating each other as equals is the fundamental principle to continuously deepen the cooperative relationship between China and ASEAN," he told Xinhua.

"Coupled with ongoing urbanization and rising domestic demand, powered by the Chinese government's measures to shift the economy to an internal consumption-driven model, the market potential in the Chinese mainland, particularly in lower-tier cities, continues to be attractive to jewelry retailers of all sizes," said Yang Lixin, director of the gemological training center for China's National Gem and Jewelry Technology Administrative Center.

"Consumers already know that they are participating by Nov 1 and often even know what they want to buy as they would have to pay a deposit for popular items. Hence, this additional window serves to bring the transactions forward," Ong said.

"Currently, infrastructure construction has a dominant role, but the demand for related services will be tremendous in future," said Zhao Guangbin, senior economist of Shenzhen Qianhai PricewaterhouseCoopers Business Consulting Services Co Ltd.