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"Chinese culture is different to that in the rest of the world, especially the European Union. In China, people work harder and are more willing to experiment by trial and error, while Europeans work in a more structured way. By the time people in the EU have come up with a structured plan, the Chinese have already developed a solution," he said.

"Currently, however, Chinese companies lack genuine technological breakthroughs and innovation. They still have very little in the way of unique differentiation compared with other providers," Ji said.

"Compared with Western markets, the standardization of China's movie industry is still in its infancy. But digitalization is fueling fresh momentum and can help us narrow the gap sooner," he said.

"Consistent with these plans, the country's ongoing and necessary rebalancing process implies lower future growth," he said.

"Chinese consumers' demands have become more and more diversified and personalized," said Gu Fan, vice-president of Amazon China, adding the company will step up efforts in the cross-border online shopping sector through Amazon Global Store and Prime membership.