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"Chinese consumers are trading up to higher-quality products," Jeff Walters, BCG managing director and co-author of the report said. "Digital technology is one of the underlying drivers that will continue to spur purchases."

"China's international express market had been dominated by global giants such as FedEx, UPS and DHL for long, and the aviation logistics hubs built by Chinese enterprises will intensify the competition," Yang Daqing, a researcher from China Society of Logistics, was quoted as saying by National Business Daily.

"Commercial banks' general asset management business contracted last year, largely due to the newly released asset management regulations. But China's private banking sector grew unexpectedly, leading wealthy Chinese to invest in the country's key sectors to optimize social resources and accelerate the transformation of China's banking industry," said Bai Ruiming, deputy secretary-general of the association.

"Combating the virus is the common task of all humankind, and we must intensify the sharing of knowledge to cope with it," Wang Daowen, director of Tongji Hospital's cardiovascular department, said after a video conference with Italian counterparts on Wednesday night.

"China's space industry needs international cooperation, including cooperation under the United Nations' framework and is committed to international cooperation," Wang said.