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As China's consumption upgrades picks up pace, consumers are willing to spend around ,000 on online custom-made clothes, a report said.

As China has not gone through multi-generational wealth management, whereas some other countries have gone through a lot of succession planning, estate planning and financial planning, multinational insurers can bring the expertise in their home markets to China, Kimura said.

Apple also is expected to release an iPhone with minor updates to last year's ,000 model and another version made of cheaper materials, including a 6.1-inch LCD screen. Even so, the cheaper iPhone is still expected to sell for 0 to 0. The cheaper phone also is expected to lose the home button. Price cuts for older models, with the home button, are also likely.

Arkansas state in the United States said on Wednesday that a Chinese company would invest million in the state as it continued to gain from its strong business relations with China.

As Daniel Blumenthal, director of Asian studies at the American Enterprise Institute, wrote this month: "For its smaller, less developed recipients, (the Belt and Road Initiative) is still large in scope. What might be economically insignificant for the US still has large geopolitical payoffs for China."