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Carlos Casanova, senior economist for Asia at Union Bancaire Privee based in Hong Kong, said that digital renminbi used in cross-border payments can promote the internationalization of the yuan, and promote the country's trading strengths.

Cao Lei, head of China's e-commerce research center, attributed the popularity of Chu's oranges to their effective business-to-consumer distribution channel, which cut costs and transportation times, adding that online shopping has become a way of life for young consumers.

Carlos introduced Liwayway, the family's snack business in the Philippines, to China in 1993, setting up two joint ventures in Shanghai and creating the brand Shanghaojia, a Chinese equivalent of its already successful Oishi back in the Philippines. Over the span of a decade, the brand grew to become one of the most popular in the market.

Career counselling is offered to detainees at a prostitute re-education center in Shanghai, July 27, 2005. [Photo/IC]

Centralization is not the only thing Amazon has changed at Whole Foods as the two companies integrate. On the same day that the deal closed in 2017, Amazon slashed prices on some items, started offering Whole Foods items on its website, and selling Amazon hardware like Echo speakers in-store.