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Analysts said the price increase of Chinese beer reflected upgraded consumption in the world's second-largest economy, as increasingly affluent consumers are less sensitive to prices but crave more high-end packaging and brands.

Analysed by industry, employment in Hotels and Gaming & Junket Activities registered an increase, while that in Construction and Restaurants & Similar Activities saw a decrease.

And economic losses valued at more than 400 million yuan have been retrieved, Wu said.

Analysts said that the current policy of increasing infrastructure investment may keep the country's economic growth from continuing to fall, but it will not be adequate to raise growth. They said if the country's economic growth continues to weaken, China may further cut taxes and lower interest rates to boost manufacturing and consumption.

And in this context, our interest is how we can leverage, you know, the Belt and Road Initiative, the Philippine Development Plan, the ASEAN Master Plan of Connectivity. How we can leverage this into concrete economic gains and projects, which will benefit not only China, the Philippines, and ASEAN, but all the countries involved in the Belt and Road Initiative. The key point, however, the key emphasis is on connectivity, because this is where we see particular areas of interest. You know the infrastructure projects, there’s a great need for improving the infrastructure in the Philippines, there’s a great need of improving the infrastructure in Southeast Asia. And so this is an area where the interests are aligned, between China, the Philippines, and the Association of Southeast Asian Nations.