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"China is also looking at establishing industrial parks in Mindanao, and there is a growing interest in infrastructure development, particularly in the power and energy sectors, transport and logistics."

"China has become a core priority for Ferrero in terms of growth. Thanks to a series of timely and effective measures, the Chinese market has been the first to recover amid the pandemic, demonstrating its remarkable resilience and great potential," said Mauro De Felip, general manager of Ferrero China.

"By the end of February, local authorities in 135 cities had removed trade barriers on used cars and the results are starting to show," said Shen at the 2017 China Used Car Assembly held in Wuhan, Hubei province.

"China has effectively controlled the spread of the pandemic and is actively promoting work and production resumption, becoming a key driving force in boosting the global economic resurgence," Li said.

"But we are not just about hardware. The company is working on full-stack optimization, which also involves software, systems and algorithms," Huang added.