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China's cross-border e-commerce sector has grown exponentially as the country's middle and high-income shoppers demand increasingly diversified and personalized products and services. Market consultancy iiMedia Research said market size of the country's cross-border online shopping has been expected to rise to 10.8 trillion yuan (.5 trillion) in 2019.

China's new economy, which includes the adoption of information technologies across various sectors, is estimated to account for 12 percent of the country's GDP this year, according to a report published last month by Renmin University of China and China Chengxin Credit Management.

China's internet giant Tencent intends to purchase million worth of ADSs in the offering, or 25 percent of the deal, the company said.

China's efforts to embrace an era of innovation-led growth have prompted global companies to become more flexible and adept with their new business requirements and approach to remain competitive in the country.

China's imports and exports to the EU, the US and ASEAN countries increased by 7.9, 5.7 and 11.2 percent respectively in 2018, accounting for 41.2 percent of China's total imports and exports.