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Anta's FILA brand and Anta Kids have also achieved good results, Zhang said. "Each of Anta's acquired international brands has its own specific targeted consumer group," he said.

Another noted trend is that Alibaba's sales and marketing budget climbed 90 percent in the last quarter of 2017, significantly higher than the 42 percent growth rate for research and development.

Apart from buying cut-price goods, the group also sell items they no longer need on online second-hand markets. Statistics show that half of the female Zhuanzhuan users under the age of 24 have sold unused goods on the platform.

Antony Sichee Mo, a 22-year-old man from Australia, was recently sentenced to five months in prison by a Shanghai court for his conviction on charges of providing venues for drug users.

Apart from blazing the trail of reform in finance and trade, the Shanghai FTZ is tasked by central authorities with exploring reforms that simplify market entry for domestic and foreign investors and strengthening supervision.