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"China is the world's second-largest luxury market, and we are delighted to have such a respected partner. This partnership addresses the market's challenges by combining the Farfetch brand and curation with the scale and influence of the foremost Chinese e-commerce giant," said Jose Neves, CEO of Farfetch, which raised 0 million in 2016 in a Series F round of funding.

"But when prices of companies stop declining and start to rebound, it is a clear sign of bottoming out. As long as these companies are healthy at the financial and operational levels, investors can feel confident to hold a long position on them. In the long run, China's A-share market will pick up slowly but the bullish performance can be expected for about 10 years," he said.

"Buying appropriate Christmas gifts is also a difficult annual task for Westerners," he said. "And with the concept of a market economy getting into more and more Chinese minds, bigger and thicker red packets are just something that come naturally. After all, it's easier for people to measure the value of the gift if it comes in cash."

"But the mechanism may not have gone so well," said Dai Guanchun, a partner at Jingtian & Gongcheng, a Beijing-headquartered law firm.

"China has rolled out a series of supportive policies and will continue to do so to help businesses recover and further stimulate sports-related consumption," Li said.