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China in late April launched an online shopping festival that encourages consumption of premium products. The first day of the campaign saw an estimated 172 million packages delivered, surging 47.7 percent year-on-year.

China is currently testing 5G across all major cities and provincial regions, including Shanghai, ahead of commercial launches next year. It is forecast that 28 percent of China's mobile connections will be running on 5G networks by 2025, accounting for about a third of all 5G connections globally.

China is in the midst of its travel rush for Chinese New Year, the most important time of the year for Chinese families to get together.

China is expected to import goods worth trillion and attract overseas investment of 0 billion in the next five years, while tourists from the country are expected to make 700 million outbound trips.

China has the largest middle-class in the world, around 300 million and growing, accounting for 30 percent of the world's total. Morgan Stanley expects China to gain high-income status by as early as 2025.