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China is leapfrogging over credit card usage. Mobile payment has made it possible to order food, pay credit card bills, and manage stock accounts at anytime, anywhere, or buy a pancake at a roadside breakfast stall without having to carry a wallet.
China is also the third largest applicant for trademark registration under the Madrid System with 4,810 applications in 2017, up 59.6 percent.
China is one of the fastest growing markets in wine consumption and ranks fifth in the world after the United States, France, Italy and Germany, according to media reports citing data from the International Organization of Vine and Wine. China's wine market has huge potential to grow as the country's per capita wine consumption was only around 0.6 liters in 2019, compared with 10.1 liters in the US.
China has rolled out 17 measures to support hog production since the end of August, and most of them have been implemented, according to the ministry.
China has tightened its scrutiny of outbound mergers and acquisitions by Chinese companies to curb speculation and manage capital outflows. It has also further opened its financial markets including launching a bond trading link between the mainland and Hong Kong to attract more inbound capital from overseas investors.