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Apart from strong GDP growth, China has also maintained a current account surplus, abundant forex reserves, sound fiscal conditions and stable financial systems, all helping support its currency.

Ant, the financial arm of Alibaba Group Holding Ltd, stands to benefit from the e-commerce giant's presence to support the development of Lazada, its newly acquired e-commerce counterpart in Southeast Asia, said Vey-Sern Ling, an analyst from Bloomberg Intelligence.

Another decision made at the meeting said the procedures that a new firm needs to go through to become initially operational will be further streamlined. The whole business registration process will be conducted online. Government approval of the names of businesses before registration will no longer be needed unless specifically required.

Apart from the kitchen staff preparing fresh food at the back, we saw only two workers in the 1,800-square-foot Amazon Go store during our visit: one at the beer and wine section to check IDs, and another just inside the entrance to greet customers. Workers are also needed to restock shelves and help customers.

Apart from the initiative, Stan-Chart has continued to focus on enhancing its banking capabilities in China and has become the first foreign bank to receive a domestic fund custody license in the country.