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"Going overseas always brings challenges, particularly from a cultural perspective. Running a business in less familiar economies requires us to know the local culture, work with the locals, gain a thorough understanding of the legal environment, regulations and laws," said Lu.

"Given that China is the largest trading partner and tourist destination for most economies in our region, slowdown and disruptions caused by the epidemic will affect most regional economies. We expect China to remain a key growth driver of the global economy in 2020," he said.

"For purely online businesses, all internet services and apps based on the English language can only reach around 100 million elite users. Another seven language versions are needed to cover 70-80 percent of the Indian population, with the remaining 'long-tail' part of the population still unreachable with other language versions," he said.

"For smaller loan applicants, the major difficulty is the information asymmetry," he said. "How to reduce default risks of unsecured loans by monitoring the cash flows of companies is also a challenge, because small and micro enterprises are asset-light and short of pledges."

"Given these tremendous improvements in children's well-being, it's not surprising that China ranked in the top quarter of all countries analyzed," Wang said.