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Apart from strengthening an industry-wide credit information sharing, regulators should also guide consumer finance institutions to tighten credit risk management and expand their business based on real consumption scenarios, the NIFD report said.

Another 86 companies are expected to post a rise in their net profits in 2017, but their annual reports are yet to be released.

Another 2018 China Smart Manufacturing Report published by Deloitte said China's smart manufacturing had entered a period of high-speed growth, and smart manufacturing has substantially improved its contribution to domestic industrial companies' profits.

Another reason is misinformation over monosodium glutamate. The flavor enhancer was demonized for years by campaigners using false science. They even came up with the term "Chinese restaurant syndrome" and claimed diners suffered a group of symptoms. This has since been exposed as racist hysteria and more restaurants are starting to embrace the additive, but it will take time for the unhealthy image to fade.

Apart from the warehouses, the logistics specialist has wasted no time placing chips on cross-border transportation. It opened an airfreight route between Hong Kong and Belgium in July, the second international route set up for e-commerce parcels after opening one between Hangzhou and Moscow earlier this year.