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Chinese e-commerce giant JD.com reported robust businesses during the Chinese New Year holiday, with fourth-tier and sixth-tier cities leading sales growth of over 60 percent, signs of rising spending power in the country's less-developed areas.

Chinese pop idol Cai Xukun poses for a fashion brand. [Photo/Official Weibo account of Elephant Kingdom]

Chinese companies, especially those that are hosted and supported by Zhongguancun, a high-tech hub in the Chinese capital city, are trying to share with other countries their expertise in telecommunication and information technologies.

Chinese banks are operating more prudently and their ability to withstand risks has already improved under the current environment of stringent regulation, Xie noted.

Chinese delivery firms handled a total of 63 billion parcels in 2019, up 24 percent from the previous year, while total business revenue grew 23 percent year-on-year to 745 billion yuan (6.86 billion), according to the SPB.