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Chinese e-commerce giant JD reported robust sales during the Spring Festival holiday due to the growing demand arising from consumption upgrade and the rise of middle and high-income shoppers.

Chinese consumers are also quick to adapt to new technologies, said Mohan. Therefore, Grohe sold more smart control showers in China last year than anywhere else in the world.

Chinese outbound investment is likely to face more headwinds, as countries including the US tighten their rules and increase their scrutiny of foreign investment, said Han Qi, a researcher at Shanghai Chamrich Equity Investment Fund Management Co Ltd.

Chinese electric vehicle manufacturer BYD Co Ltd unveiled its first European electric bus factory in the northern Hungarian city of Komarom on Tuesday.

Chinese games have grown at a rapid pace for two years in developed gaming markets across Asia and Europe, the report said.