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"Consumption data collected via WeChat Pay can help us pinpoint customers and predict their preferences. We can feed promotional deals to attract new customers, or push in-app notifications to engage with recurring shoppers," said Tian Jiangxue, deputy general manager in charge of strategy at Tencent Smart Retail.

"China's duty-free retail market possesses huge potential as people's consumption capacity has increased amid widening market scope," said Guan Lixin, a researcher with the Chinese Academy of International Trade and Economic Cooperation.

"Combining our unparalleled delivery network with Walmart stores means consumers will enjoy convenient access to a wide range of high-quality goods," said Kuai Jiaqi, chief executive officer at JD Daojia.

"China should select central SOE leaders on the basis of both integrity and ability, with priority given to integrity, be both strict with and caring for them, and place equal emphasis on providing incentives and imposing constraints," according to a statement released after the meeting.

"Consumers in Europe and the United States are still used to shopping in brick-and-mortar stores, where they get most of the brand recognition. We have to respect the status quo of the mature overseas markets. We have to adjust to the local market rules by adapting our products, pricing, and distribution strategies," he said.