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Analysts say move will encourage more international competition and grow industry

An open harbor that had no visa requirements for entry in the 1930s and 40s, Shanghai provided shelter to upwards of 20,000 Jews during World War II. The city was then also known as "Noah's Ark of the East".

Analysts said the emerging signs of Chinese economic stabilization mean the world's second-largest economy is also expected to play a crucial role in helping to anchor the global economy, which, as International Monetary Fund Managing Director Christine Lagarde cautioned, is at a "delicate moment".

Ana Rita Sithole, member of the Polibureau of Mozambique Liberation Front, the ruling party of the country, said the strong desire for cooperation between China and Africa could break through the barrier brought by their great geographical distance.

An optimized livestreaming shopping process and experience holds the key to attracting consumers in addition to cost performance. According to the Nielsen study, some of the reasons why consumers are hesitant to use livestreaming e-commerce platforms are due to product quality, after-sales problems, less-than-appealing discounts, as well as being unable to obtain the product.