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Industry insiders said it is clear that demand for international brands is rising rapidly in China, and this is probably one of the fastest-growing trends in e-commerce. Imported, high-quality and famous brands are popular with consumers, and younger shoppers proved to be the main consumption force.

Individual investors cannot redeem the treasuries before maturity, but they can trade in the secondary market with floating prices. Investors should, however, be aware of the price fluctuations, the ministry said.

Industrial output expanded 4.4 percent year-on-year last month, 0.5 percentage points faster than the previous month.

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In urban homes, a variety of applications on smartphones have boosted consumption of novel services, including in-home massages and manicures.

Indiscriminate housing purchase restrictions in some cities did little to help stabilize the market, and more cities are expected to follow suit this year to diversify their tools, Zhang added.

Income from value-added tax, which accounted for over 30 percent of fiscal revenue, jumped 19.3 percent year-on-year. Corporate income tax and personal income tax both saw strong growth last month.

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Industry leaders and much smaller enterprises also are increasingly adopting the concept.

India-China cooperation is of great significance to world peace and prosperity, and the Indian side is ready to advance the bilateral relations on the basis of the Wuhan meeting, said Modi.

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India’s demographics, as well, as geography are two factors contributing to the decision. Of Flipkart’s 8 million monthly shipments, about two-thirds come from users in small towns and cities, where consumers likely have limited access to desktop computers and broadband Internet.?Smartphones are also more affordable than computers.

Inditex, owner of eight fashion brands including Zara and Massimo Dutti, aims to continue to expand its presence in China through store reinforcement and to strengthen its digital connections with local consumers through innovations.