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The company is pushing ahead with its "New Retail strategy", merging online and offline commerce by using colossal amounts of data collected through its array of digital services.

The concept car's lighting technology is an innovation that is visible by both day and night.

The company will launch new products customized for the Chinese market, to cater to the taste of Chinese consumers.

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The company officially launched its service in Shanghai in April 2016. In just over a year, it has raised more than 600 million U.S. dollars to finance overseas expansion. It now has 6.5 million shared bikes in 150 cities globally.

The company hopes to make the difference through sales of movies, books, Amazon Prime subscriptions and other products to Kindle Fire users — but that could take some time to kick in, and the company’s bottom line could feel the effects in the meantime.

The comparatively high reading was driven mainly by food prices, which increased by 10 percent year-on-year last month, up from 9.1 percent in July, while nonfood prices rose by 1.1 percent, 0.2 percentage points lower than in July.

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The company's first-quarter net profit fell 15.41 percent year-on-year to 1.54 billion yuan.

The company vows to further boost its international business in both developing and developed countries, which currently accounts for 5 percent of the company's profile.

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The company now has more than 200 offices in more than 80 countries and regions. Its focus is on BRI-related countries and regions, especially Pakistan, Bangladesh, Indonesia, the Philippines, and Vietnam.

The company's overseas revenue now accounts for around 20 percent of its total revenue, noted Nan, who is also a member of the 13th National Committee of the Chinese People's Political Consultative Conference. "It will rise to 30 percent to 40 percent in the near future," he added.