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Chinese consumers' passion for online purchases has been sparked again with this year's June 18 shopping carnival, which kicked off on Monday, as e-commerce platforms accelerated efforts to offer steep discounts and shopping coupons and use livestreaming product promotions to boost an economy hit hard by the novel coronavirus pandemic.
Chinese enterprises have focused their investment on telecom, agri-food manufacturing and renewable energy, helping improve infrastructure and diversify consumption in the region, said Burgos.
Chinese e-commerce giant JD reported its net revenues for the first quarter of this year reached 146.2 billion (.6 billion), an increase of 20.7 percent compared with the same period last year, with annual active customer accounts rising 24.8 percent to 387.4 million in the twelve months ending March 31, 2020.
Chinese home appliances giant Midea Group showcases its strengths in smart manufacturing to visitors. [Photo provided to China Daily]
Chinese e-commerce giant Alibaba said its net income for the fiscal year ending March 2018 rose 47 percent year-on-year to 64 billion yuan.
