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"Companies with continuous losses and high debt-to-asset ratios will face risks, along with private construction, coal, logistics, real estate, and small thermal power companies," he said.

"Countries like Australia, for example, could gain from developing financial services and education for the region. Without India you could see the Philippines gain with its business process outsourcing. Countries like Vietnam, Thailand and Indonesia could see gains in manufacturing."

"Chinese fintech companies can also increase their international presence in the sector, and seek more cooperation opportunities by setting up branches in central and east European countries. However, risk management may still prove to be a major challenge," said Wang.

"Cross-border yuan settlements will not only lower the risks from currency rate fluctuations, but also lower exchange costs for various currencies and improve trading efficiency," said Wang.

"Chinatown is not something that you create. Chinatown only becomes a Chinatown because of the lives of the people there," said Teresita Ang See, founding president of Kaisa Para Sa Kaunlaran (Unity for Progress), a nonprofit organization that advocates for the proactive and sustainable participation of the Chinese-Filipino community in Philippine development.