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Apart from chips, the domestic memory industry is also on the rise. At present, Samsung, Toshiba, SK Hynix and SanDisk hold a combined 85 percent share in the global flash memory market, and domestic brands only account for 8 percent. However, 70 percent of global demand for flash memory chips comes from domestic companies, so there is huge growth space for domestic chip makers.

Ant's hit product Alipay, a digital wallet designed for settling payment on shopping sites of Alibaba Group Holding Ltd, has now extended new functions like lending, credit-scoring and on-demand services that many of its 870 million users globally rely on.

Apart from historical events and details, the book also narrates the everyday life of Chinese people and families over the period, the publisher said.

Another area that stands out for me is technology and innovation. It is incredible to see the rate of adoption and development when it comes to technology in China today. It has transformed the landscape and forced companies to adopt quickly to engage with customers. But you must be able to understand how best to use all this technology. Yum China has been quick to adopt and, as always, listen to customers. One example is how we led the way in food delivery in China with the introduction of Pizza Hut Home Delivery in 2001. Delivery now accounts for over 14 percent of our business. There is the power of our membership platform and the fact that almost 60 percent of sales were cashless by the end of 2017 from 100 percent cash in mid-2015. That just shows how quickly things can and do change in China and I believe this momentum will continue.

Apart from the core consumers aged from 23 to 28, those under 22 are increasing rapidly, now accounting for about one fourth of the consumers on Tmall, the online marketplace. Men are also paying more attention to skin care than before, the Alibaba and CBN Data report said.