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The company will continue to bank on a network of internet celebrities to promote different merchandise to users of various nationalities. Social media personalities will become skilled at converting their influence into cash while helping to boost the revenue of merchants, Wang explained.

The company relies on word-of-mouth marketing, and lets its users share photos of products they bought, purchase tips and overseas shopping stories online.

The competition in the 5G market has also intensified, with Huawei, Xiaomi, Oppo and Vivo all scrambling to launch devices that encompass all price segments so as to reach more customers.

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The company pulled the plug on the idea in early 2008, instead focusing on home delivery of groceries. But shortly thereafter the company filed a patent on a mini-storefront concept, one which conceivably could have been used to warehouse products for customers.

The company logo of ICBC is seen at Xuchang, Henan province. [Geng Guoqing/Asianewsphoto]

The company sells products in more than 92 countries and regions, but the Chinese market is the most important because it is one of the fastest-growing markets and it still has great potential, according to Zheng.

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The company said tours of neighboring areas, countryside trips, cleanliness and high quality are buzzwords that netizens searched for frequently recently. It expects more people will take shorthaul trips to experience countryside lifestyles.

The compilation of personality rights in a separate volume is a major development and innovation in democratic legislation and the civil code. It will help deepen the legal protection of personal dignity and individual rights, said Shi Jiayou, professor at Renmin University of China and executive director of the National Research Center of Civil and Commercial Law, speaking to China Global Television Network.

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The company will launch an international road show at the beginning of December and list shares in US bourse on Dec 12, with a total initial public offering less than billion. It has obtained 10 times subscription intention from institutions, the report said citing people close to the deal.

The company signed contracts worth 25.04 billion yuan (.97 billion) with clients from both domestic and overseas markets in 2017. Its profit was 1.27 billion yuan, thanks to its diversified product categories, expanded sales channels and go-global strategy.