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"Compared with other online luxury platforms, our company is built around competitiveness," said Hong Xiaobo, chief operating officer of the company.

"China still lags behind developed economies in the high-tech sector, so encouraging foreign investment is of strategic significance to catch up with globally advanced technology, as well as promote the development of cutting-edge technology in the manufacturing industry," Wang added.

"Consumers are often unaware of the differences in LED lighting. There is so much choice and a great deal of variance in quality. Lighting used to be a solely functional purchase, but as we spend an increasing amount of time inside and at home, quality of light has become even more important," Rowena Lee, business group leader of LED at Signify.

"Chinese capital is very mobile across the region, despite recent attempts to cap it. Investors will no doubt be drawn to where they might get better returns," Khatiwada added.

"China's economy has been transitioning from a phase of rapid growth to a stage of high-quality development," according to the report of the 19th National Congress of the Communist Party of China in October.