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And there’s yet even more movement in this competitive market, as Target last December paid 0 million in cash for delivery service Shipt, and its 20,000 personal shoppers.

And they are not just playing Tencent's popular game "Honor of Kings," or chatting with friends. They order groceries, transfer money, watch movies, read books, book holidays, or even manage their stock market portfolios.

And it is not just beef.

Andres Borquez Basaez, director of Chinese Studies Program at the Institute of International Studies with the University of Chile, said the world economy was an interdependent system and US-China trade friction would cause damage to developing countries.

Analysts said that abundant real estate projects, expanded presence in second- and third-tier cities and strong operation skills enabled property developers to achieve the outstanding results.