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Claudia Vernotti, director of ChinaEU, a business-led association based in Brussels, said China is a huge market and home to one of the world's largest consumer bases in nearly all economic sectors. As such, it is an attractive destination for any company looking to expand overseas.

Chongqing, Guangzhou and Shanghai with 2,473; 2,441 and 2,379 bookstores respectively took third to fifth on the list.

Chinese tech giant Tencent Holdings Ltd is looking to leverage artificial intelligence to "save lives", as the country called for accelerated efforts to develop the new generation of AI.

Cloudy global economic outlook for 2018 casts a pall over city's showing

Chinese small firms have suffered significant hardships amid the ongoing economic slowdown, but their activities will likely bottom out this year thanks to an improving financing environment and confidence and technological upgrades, said Zhang Liyun, a researcher with China Minsheng Bank.