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"China's economy has achieved high-quality growth and the country's internet and technology development has gained momentum thanks to reform and opening-up," Ma, who also chairs internet giant Tencent, said ahead of the opening meeting of the first session of the 13th NPC.

"Chinese consumers are more willing to spend money on cosmetics and skincare products, and more people are paying attention to the quality of products," said Neil Wang, president of consulting firm Frost & Sullivan China.

"Corporations have to pay tax and avoid illicit financial outflows. Governments have to close tax loopholes which rob the poor of the money required for healthcare, education and development," she said, noting that Africa loses over billion per year in illicit financial outflows.

"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.

"Companies need to focus on refined operations as well as seeking new ways to turn profitable. They should try to reduce the cost, improve the efficiency, improve the service offerings and provide better user experiences."