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"COVID-19 is not only hitting the poor the hardest, it is creating 'new poor.' The region is confronted with an unprecedented set of challenges, and governments are facing tough choices," said Victoria Kwakwa, vice-president for East Asia and the Pacific at the World Bank.

"But we still need to pay attention to the potential influences and prevent financing difficulties for small business in the second half, as tight financial regulation is expected to continue."

"China is transforming from a manufacturing giant to a world manufacturing power, but manufacturing sector development is unbalanced along the value chain. Small and medium-sized enterprises need to improve their production efficiency and management models, as well as reduce their manufacturing costs," said Xu Lihong, CEO of A.BRAIN Research Institute of Intelligent Manufacturing.

"Change is easy, progress is always much more difficult," said Watkins. As the global pandemic has made it increasingly difficult for students at the high school and university level to travel globally, the use of remote or e-learning has enabled teaching and learning to continue without interruption.

"Changes in the global economic landscape are one of the reasons behind such a trend. Faced with trade frictions, a large number of capital needed to find new investment opportunities," said Jixun Foo, managing partner of GGV China, a venture capital firm based in Shanghai, and a top investor on Forbes' Midas List.