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"Chinese culture and books are inseparable overseas, and most foreigners get to know Chinese culture from these books," said Zhu Yongliang, deputy president of Zhejiang Publishing United Group.

"Chinese consumers also favor more high-end baijiu given upgrades in consumption, which has helped increased companies' profits," the report added.

"Christmas-time celebrations are more commonly seen among younger people who prefer to hang out with friends and exchange gifts," said Zhao.

"Chinese young consumers pay much attention to smartphones, entertainment function and appearance design," DJ Koh, president and CEO of the IT & Mobile Communications Division of Samsung Electronics, said.

"Chinese fintech companies can also increase their international presence in the sector, and seek more cooperation opportunities by setting up branches in central and east European countries. However, risk management may still prove to be a major challenge," said Wang.