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Apart from Ping An, 11 listed companies have buyback plans valued at over 1 billion yuan each. These include China Merchants Securities, consumer electronics giant TCL Corp and display-advertising firm Focus Media.

Anne Landsman

Another front in the fight is the increase of processed foods being consumed in China, thanks to China's move to urbanization and the food industry's "marketing, promotion and sales".

Apart from helping Africa's growing middle class to bypass the traditional, often more costly, retail channels, the e-commerce platforms are also making it possible for African producers to reduce many of the barriers to access markets around the world. This is crucial for Africa as it seeks to embark on a journey toward industrialization at a time when other regions already have extensive reach and presence in the world markets. E-commerce thus acts as a leveler for emerging African producers and industrialists looking to find foreign markets.

Another petrochemical giant BASF began to build its largest overseas investment project in Zhanjiang in November 2019, with investment set to surpass billion.