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But the sleepy colonial town has never seen a boom like this - all because of Coco, this year's Golden Globe winner for best animated film and a box office smash that has grossed more than 0 million so far.

But the market is evolving at breakneck speed given how quickly Chinese consumers snapped up smartphones and mobile apps, which drive usage of cloud services.

By 2025, electric vehicles will account for a fifth of the entire market. Foreign carmakers are pouring more money into electric vehicles in China to meet stricter emissions and fuel-economy rules. The government will launch a cap-and-trade scheme next year, penalizing automakers that fail to produce enough electric cars as a proportion of their overall output.

But, Qu added, there will be major mergers and acquisitions in the second half of next year, with M&A remaining the theme for the Chinese banking industry for the next three to five years.

Buyers can convert the notes into the company's American deposit shares (ADSs) with a conversion premium of 32.5 percent to their latest closing stock price.