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Chinese consumers at home and abroad spent 770 billion yuan (9.9 billion) on luxury items, equivalent to one-third of the global spend last year, according to McKinsey& Co.

Chinese model Xi Menyao, better known as Ming Xi, attends a party for L'Oreal x Balmain collections during the 2017 Paris fashion week in Paris, France, September 28, 2017. [Photo/IC]

Chinese lenders bought 8.3 billion worth of foreign currencies and sold 7.6 billion worth last month, resulting in net sales of .4 billion, the State Administration of Foreign Exchange (SAFE) said in a statement.

Chinese enterprises have expressed enthusiasm in participating in Auckland's infrastructure projects, Xu said, stressing that the cooperation between the enterprises of the two countries will fundamentally improve Auckland's infrastructure of hotel, railways, roads, ports and wharfs, which will boost the sustainable development of local tourism.

Chinese now drink one-fourth of the world's beer, with the market having really taken off in the 1990s, when it expanded tenfold. That prompted Western companies to stream in, building breweries and spraying the country with marketing campaigns. Their number grew from four in 1994 to 60 in 1999.