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"Five years ago, I wanted only to make short video clips on cooking for people to watch on their way back home," Tse says. "I didn't expect it to go so far.

"Governments at different levels have given the group a serious of favorable policies to support work resumption and recovery," said Zhou."We have confidence in future production and market recovery."

"For two years, I have offered that Schultz will seek the 2020 Democratic presidential nomination ... I still believe so," said Douglas Kass, founder of hedge fund Seabreeze Partners Management Inc, who has a short position on Starbucks, expecting the shares to decline.

"First-tier cities were some of the earliest to implement (market-) cooling measures and continue to have some of the toughest restrictions, while also having some of the highest prices," said James Macdonald, senior director of Savills China research, another international real estate consultancy.

"Fueled by the government's supportive policies, forward-thinking domestic internet and tech titans, the country's IoT sector has actually entered a new stage of rapid development over the past year," Cao Wenzhong, vice-president of the China Economic Information Service, told a news conference in Wuxi, Jiangsu province.