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"China is also home to many major 5G equipment suppliers and smartphone vendors, which will be responsible for an aggressive marketing push over the next few years," says Nicole Peng, Vice President of Mobility at Canalys.

"China is already enormously influential in the world, but I think there's much, much more to come," said Perry at an award-giving ceremony at Chinese embassy in London on Monday.

"China has a large number of small and micro-businesses, and this helps create a large number of jobs in China," she said. "Yet such businesses also have clear disadvantages, such as being vulnerable to risks. This requires the government to give them more policy support, especially tax incentives, to help them grow steadily."

"By lowering gross profit margins and special offerings from the brands, One Jewelry aims to sell the same items at the same price as in home markets such as the United States or Europe," he said.

"China has recently achieved the greatest reduction in poverty during the shortest period in the whole of human history, and China alone was responsible for half of the world's reduction of poverty," he said.