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"Full-year Chinese jewelry demand reached a three-year high of 672.5 tons, China's retail network extended further throughout 2018, with top branded jewelry retailers leading the charge," Wang said, adding that established brands were steadily increasing their penetration in lower-tier cities.

"Growth of China's app economy is accelerating, putting it within striking distance of economies like Japan and the United States, said Bertrand Schmitt, CEO and co-founder of App Annie, a mobile analytics institute.

"Food safety checks in supermarkets or big restaurants are common, but grocery stores with some safety risks in communities are rarely inspected," she said.

"Global investors have invested trillion in securities according to the ESG principles, whereas Asia only accounts for a small fraction of the total investment because of the lack of ESG awareness and little client demand for ESG investing in the region," she noted.

"Hayao's investment in GNC is a testament to the strength of our brand and the tremendous global opportunity ahead, including in China. By partnering with Hayao and pursuing plans to amend and extend our term loan facility, we enhance our capital structure and financial flexibility and establish a strong platform for growth in the Chinese market."