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Analysis from International Data Corporation indicates that Transsion's market share in Africa reached 52.5 percent in 2019 while its smartphone market share in the continent has exceeded 40 percent and ranked No 1 by the end of second quarter this year, in spite of the global economic impact of COVID-19, according to Transsion.

And he said collaboration in this area of research has been significant, even though the numbers with IBD in China are still relatively small.

And China's brick-and-mortar gyms are increasingly using such technologies as artificial intelligence, the internet of things and big data. These contemporary high-tech, social and market trends intersect with a traditional cultural focus on health and longevity that's venerated in ancient poems, folk tales and philosophical texts.

Analysts also said SMEs need to accelerate their push for digital transformation to gain key momentum in the market amid disruptions from the COVID-19 pandemic.

Analysts said Chinese mainland enterprises are increasingly diversifying their investments globally with a particular appetite for trophy properties in prime markets, eyeing stable and steady, long-term yields from rental income.