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Another five, working as agents of the betting website, were arrested in different places including Chongqing municipality, and the provinces of Zhejiang, Hubei, and Guangdong.

Another trend insurers are seeing is healthcare. A large-scale national health program has been planned in China, and it creates huge opportunities for the industry, he said.

Apart from Shanghai, cities including Beijing, Chengdu and Shenyang have all organized a number of exhibitions and activities, showcasing their recent accomplishments in terms of innovation and entrepreneurship.

Another interesting company to watch on this front will be Amazon.com, which reports its quarterly earnings and employment figures next week. The company has been on a growth tear, expanding by 4,200 people (12 percent) in the first quarter alone, and growing its employment base by a whopping 45 percent over the course of the previous year.

Apart from lower birthrates, the ESCAP said the improved living standards and access to healthcare and nutrition has also boosted the number of the elderly.