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As an increasing number of middle-aged people and seniors are taking their familiarity with technology from the workplace with them into retirement, many have started shopping online, including on Taobao and JD, two leading Chinese e-commerce sites.

As for tourism, according to the Chinese Ministry of Commerce, Chinese tourists spent some ,000 in the US per person in 2016, far more than the tourists from other countries. In 2016, Chinese tourists spent a total of .22 billion in the US, creating about million of revenue for the US per day.

As a global accounting and consulting firm, how has PwC benefited from China's integration into the global economy?

As a member of the Standing Committee of the National People's Congress — the country's top legislature — from 1994 to 2008, Tsang actively performed his duties to promote democracy, the rule of law and the development of industry and commerce in the mainland, said Wang.

As conventional investments like stocks, bonds and realty lost some of their allure due to reasons like risk, market volatility and low returns, WMPs and the like appear to be the preferred destination of investors seeking high returns, experts said.