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Another tantalizing example of the AI-5G tie-up is autonomous driving. Autonomous cars are essentially data centers on wheels. That "intelligence" requires the rich and rapid movement of data that 5G is expected to offer.

Apart from its role in the service industry, the sharing economy contributes to employment and consumption. "Food delivery services, as part of the sharing economy sector, boosted employment in the country. Take Meituan Waimai as an example, a total of 2.7 million employers earned money from the platform in 2018, 22.7 percent higher than the previous year. There are over 600,000 active delivery drivers every day," said Zhao Dawei, director of the research center under online food review and delivery company Meituan-Dianping.

App of the Week: Heard for iPhone and iPad.

Apart from focusing on traditional sectors such as construction industries, the company plans to invest "across the board" in Chinese market this year, he added.

Another reason is the rise in third- and fourth-tier cities may depend on an increase in hidden local debt. In this round of the real estate cycle, housing prices continued to increase for a long time with a huge overall rise. Decrease of housing prices in more third- and fourth-tier Chinese cities indicates the end of the boom in the property sector, which started at the end of 2015.