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"For example, in big cities, people are willing to spend one month's salary on an iPhone," he said. "In small ones, they prefer mobile phone brands such as Oppo and Vivo, as they have good functions and designs but are relatively cheaper."

"From the Healthy China 2030 strategy and the recent national two sessions, we find that new infrastructure, new technologies and new healthcare have been re-emphasized by the Chinese government," he said.

"Gaming is definitely a key driver for our growth, fueled by forward-thinking investors and the supportive policies from local governments," said Quin Liu, vice-president and managing director of Asia-Pacific of Logitech, which makes computer accessories such as headphones, keyboards and gaming accessories.

"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.

"Hasbro will have no choice but to pass along the increased costs to our US customers," said Brian Goldner, CEO of toy company Hasbro. He said the Pawtucket, Rhode Islandbased company, the maker of popular products such as Monopoly and GI Joe, was working to reduce its reliance on manufacturers in China, but he also said it has built up extra inventory, incurring additional storage costs, as it braces for tariffs.