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"China is already in the driver's seat with respect to the adoption of IoT technology, mainly driven by favorable government policies and fierce market competition inside the world's largest electronics manufacturing powerhouse," said Charlie Dai, principal analyst at Forrester, a business strategy and economic consultancy.

"By combining NetEase's leadership in game development and publishing with Mattel's expansive portfolio of global consumer brands, Mattel163 is poised to build captivating and creative mobile experiences," he added.

"China has become the biggest trading partner and overseas investment market for South Korea, while South Korea is the fourth-biggest trading partner with China," said Ning Jizhe, vice-chairman of the National Development and Reform Commission. "In the first five months, the trading volume between the two economies has topped 808.8 billion yuan (2 billion), up 9.2 percent year-on-year."

"China is undergoing a huge demographic shift, with the proportion of its elderly population aged over 65 on track to grow from 10 percent (of total population) today to 24 percent by 2050," said Domenico Savarese, global head of ageing at Swiss Re.

"California, the state that has wasted billions of dollars on their out of control Fast Train, with no hope of completion, seems in charge!" the president tweeted.