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"Consumers' purchase records will be stored in the background. Based on that information, consumers' shopping preferences can be collected and analyzed by our system. Using big data, both Intersport's online and offline stores will push advertisements to match each consumer's preferences, recommending their favorites in our store. This is called 'second reach'," said Sun.

"China's accelerating consumption as well as market opening-up will help the beauty market grow bigger and more sophisticated," said Lucia Zheng, CEO of Rosilolly. The company aims to be China's Ulta Beauty Inc, the largest beauty retailer in the United States, thanks to a large presence in small cities, targeted marketing to young women and a highly reliable member service.

"Cooperation between the government and central SOEs has revitalized the local market, introduced new investment and promoted the establishment of modern corporate mechanisms. Meanwhile, the cooperation has facilitated the transformation of Guizhou's traditional industries, enhanced management levels of local companies and promoted high-quality economic development of Guizhou," Lei said.

"Competition among AI companies has turned to a scramble for talent," said Liu Wanqian, CEO and founder of PlusAI, a startup specializing in autonomous driving. It boasts a road test license in California.

"Chinese goods are good and cheap, and many residents from Russia's Far East region often come to Hunchun for shopping," said Svetlana, a Russian tourist. Buying New Year's gifts was a big part of her trip, she said, as she showed off shoes for her husband, perfume for herself and toys for her children.