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Apple's Americas, Europe, Japan and rest of Asia-Pacific regions saw revenue grow by 11 percent, 10 percent, 5 percent and 20 percent, respectively.

Around 5.5 billion liters of baijiu were consumed last year, according to London-based consultancy Euromonitor International.

As China's investment-driven growth model has gradually reached its upper limit and engendered potential debt escalation and systemic financial risks, Sang said one of the country's most important decisions in the new round was to make its investment environment more attractive.

As China transitions to an innovation－and services-driven economy, high-tech and emerging industries are picking up momentum. Telecommunications, new energy vehicles and organic light-emitting diode or LED manufacturers all posted hefty profit growth.

As Huawei secures more votes of trust in European countries, it is also grabbing big 5G orders in China, which is expediting 5G network construction. Huawei has won more than 50 percent of a key 5G procurement plan from China Mobile, the nation's largest telecom operator.