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"Chinese consumers, especially millennials, want to enjoy life... they care about their individuality and love to travel, and when it comes to shopping in both online and offline channels, they have unique tastes," said Guo Xin, a marketing professor at Beijing Technology and Business University.

"China's three internet giants are building a rich digital ecosystem that is now spreading beyond them. Baidu, Alibaba, and Tencent ... are driving technical performance such as computing efficiency to set new world-class standards," the MGI said.

"Chinese consumers are looking for superior quality, safety and efficacy, they want formula transparency and are passionate about acquiring professional knowledge," he said.

"Clearly the situation in many South American countries is far from stable. There's been a rapid increase in cases and those systems are coming under increasing pressure and they need our support; they need our solidarity," Ryan said.

"Cost reduction measures are an important part of the country's supply-side structural reform and will help effectively raise the vitality of the corporate sector," Pan Jiancheng, an official of the National Bureau of Statistics, told Xinhua.