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"By accumulating mass data, the analysis is expected to become even more reliable," Chen said.

"But when seven out of 10 customers who come into our showrooms are new-time buyers, buying an additional car or buying their first car, it is not surprising that in China new products are so fundamentally important," he said.

"China has had a good comeback," Bernard Arnault, LVMH's billionaire chairman and chief executive, told a news conference on Thursday, adding other regions including the United States also performed strongly. "These global business trends are continuing into this year," he said.

"China is the victim of US trade bullying," he added.

"China is a world leader in Internet of Things equipment. Constructing a smart city like this would require a lot of such supplies that they can provide." The Internet of Things is the data exchange network that links different appliances, devices and systems infrastructure.