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Matternet was the world's first company to be authorized to launch UAV operations over densely populated areas in Switzerland in 2017.

Many of the buildings' owners lack the funds or skills to do the work themselves, so outsiders are being encouraged to "adopt" the rundown houses and have them renovated－even turning some into stylish boutique hotels, sought after by tourists from across the country.

Many cities including Beijing, Tianjin, Xi'an and Hangzhou have released preferential policies to help bookstores, such as government subsidies, rent reductions, encouraging publishers to extend payment periods and promoting online book clubs, sales and delivery.

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Market sentiment has been lifted by the swift and effective measures the government has taken to contain the spread of the disease and a series of supportive monetary and fiscal policies to minimize the risks to the economy caused by the epidemic, analysts said.

Market observers expect a below 3 percent inflation rise in 2018, after rising by below 2 percent consistently over the past year.

Marcel Widrig, partner and global private wealth leader at PwC Switzerland, said: "China is currently the leading country for entrepreneurs to create wealth. Nowhere else has the same combination of a huge population, technological innovation and government support."

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Matthews, also a professor at the Beltei International University in Phnom Penh, said China's economic development in the past four decades was a great inspiration for the least developed countries such as Cambodia, Laos and Myanmar.

Masked protesters carry part of a sign from a bus stop during a march in Hong Kong on Saturday. MOHD RASFAN/AFP

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Many new restaurants were planning to open after Spring Festival, but the sudden emergence of the pandemic delayed construction and recruitment of staff members.

Mawston said the iPhone has been struggling in China for the past three years after major carriers like China Telecom reduced their subsidy programs for 4G smartphones. "De-subsidization has made the iPhone look much more expensive at the point of sale in China, causing iPhone demand to crash," he said.