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China might continue its dominance in the global luxury scene, said Bruno Lannes, a partner with Bain & Company, adding that Chinese consumers show a strong preference for buying luxury goods at home thanks to price adjustments, consumer-centered strategies and government initiatives.

China plans to partner with 76 WTO members to initiate negotiations on trade-related aspects of electronic commerce by building on existing WTO agreements, the Ministry of Commerce said.

China was not only the biggest buyer of Australian wine, but also the fastest growing market with exports to the nation, including Hong Kong and Macau, worth A.14 billion (2 million); an 18 percent increase from 2017.

China makes up 25 percent of global mobile games revenue, and its mobile games market is projected to grow from 16 billion dollars in 2018 to .7 billion in domestic revenue in the next five years, said the research firm.

China remains a developing country, Xu said.