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And another mammoth deal went ahead earlier this month, when Hong Kong-based CK Asset Holdings bought British brewer Greene King, for an estimated .3 billion.

Analysts say their arrivals will lure some potential customers away from startups including Tesla because the majority of Chinese customers are more inclined to choose long-established brands.

And thanks to a surging number of higher-paying jobs in service and technology industries, 54 percent of them will be classified as "upper middle" class, meaning they have an annual income between 106,000 yuan and 229,000 yuan.

Anaee was preparing more than 100 loaves for diners on Wednesday night as part of a program that lets refugees aspiring to be chefs work in professional kitchens.

Andy Cosslett, Kingfisher chairman, praised Garnier's international experience, his recognized operational know-how at a multi-national retail business, his delivery of long-term value creation, and his experience in driving digital innovation, most recently in China.