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Chinese internet giant Alibaba refers new retail to a fresh mindset, aiming to provide a better solution through integrating brands, platforms and retailers and connecting consumers online and offline.

Chinese companies have a key role in ensuring sustainable development in Africa and helping its economies tackle challenges such as limited export opportunities, weak infrastructure and unemployment, business executives from China and Africa said on Tuesday.

Chinese business software specialist Kingdee International Software Group is ramping up efforts to develop cloud services despite losses and intense competition as it strives to grasp the opportunities brought about by the digitalization of Chinese enterprises.

Chinese major e-commerce platforms continued to break records in online sales during this year's June 18 shopping festival from June 1 to 18, which is the second-largest after Singles Day on Nov 11.

Chinese consumers will make up around half of luxury purchases globally by 2025, compared with 35 percent in 2019. Luxury purchases made within China itself will take up 28 percent globally in 2025 than 11 percent in 2019.