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"Convenience store chains in China generated 133.4 billion yuan in revenue last year, up 13 percent from 118.1 billion yuan in the previous year. In the meantime, total store numbers also increased 9 percent from 91,000 a year ago to 98,000," said Lui.

"Chinese mainland companies will be driven to further innovate and upgrade their products and achieve sustainable and high-quality development," he said.

"Chinese consumers have shown huge enthusiasm for 5G smartphones, which has outpaced our expectations," he said. "To tap into this demand, Xiaomi plans to launch over 10 types of 5G smartphones next year."

"Creating a new chilled milk brand for Chinese consumers will enable them to upgrade their dairy consumption," said the statement, without elaborating on the details of the new product or the brand, nor the size of the investment.

"Chinese companies looking to acquire beyond China's borders focus on achieving dual goals—winning at home and exporting abroad, which enables them to strength their domestic competitive stance while simultaneously positioning for global expansion especially in developing markets," said Phil Leung, partner of Bain & Company.