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Ant Financial said in a statement that apart from mobile payment, Alipay's many in-app lifestyle features and third-party insurance products are among the traits that drew the attention of CKH. Currently, Hong Kong users can easily buy travel insurance and accident insurance from mainland insurance companies such as Ping An and China Life through AlipayHK.

Apart from the Supervision Law, the country has also adopted a large number of new laws and amended many others in the past five years.

Anna Pawlak-Kuliga, CEO and president of Ikea China, said the plan has been adjusted based on the dynamics in the local market. "The home furnishings market in China is now in a phase of stable growth. In addition, urbanization, digitalization and people's increasing disposable income are changing the way people live and consume.

Another interesting company to watch on this front will be Amazon.com, which reports its quarterly earnings and employment figures next week. The company has been on a growth tear, expanding by 4,200 people (12 percent) in the first quarter alone, and growing its employment base by a whopping 45 percent over the course of the previous year.

Ap - The Japan News/ann