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As China undergoes a recovery, its rising demand could further stimulate its imports of ASEAN member economies' commodities and manufactured goods, including integrated circuits, agricultural products, natural rubber, iron ore, coal and copper in the second half of this year, said Wei Xiaoquan, a researcher specializing in regional economic development at the University of International Business and Economics in Beijing.

Apple also saw a healthy expansion of 54 percent year-on-year, with 4.2 million units of wearable devices shipped in the same time frame. Despite losing to Xiaomi in shipments, the US tech company maintained an absolute advantage in the premium segment with its Apple Watch series.

Artificial intelligence giant Baidu took the lead this year by setting aside 1.9 billion yuan (1.7 million) for digital red envelopes after becoming the exclusive red envelope partner of the China Central Television (CCTV) Spring Festival Gala, the most-watched annual show on Chinese New Year eve.

Apple CEO Tim Cook delivers the keynote address during the 2020 Apple Worldwide Developers Conference at Steve Jobs Theater in Cupertino, California on June 22, 2020. WWDC, held virtually for the first time, runs through June 26. [Photo/Agencies]

Apple CEO Tim Cook noted at a conference in San Francisco this week that he wasn’t too concerned about rising competition from Amazon.com and its 9 Kindle Fire.