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"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.

"China Life is slightly weaker in large and medium-sized cities", Su admitted. "But solutions outnumber problems. As the middle-income group is expanding in major cities, we will be constantly in touch with their needs through building up new teams and product models."

"By joining China's opening-up, my company has become more competitive in the global market than 30 years ago," he said.

"China is no longer the developing economy that relies on low costs but today it competes on the mid- to high-end markets and if it is to be successful it has to step up the reliance and quality of its products and production," said Niklas Swanstrom, director of the Institute for Security and Development Policy.

"By doing so, we would have enough measures and resources to defend against the volatility of the global economy in the post-COVID-19 era and speed up our economic recovery as a whole," he said.