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Ant Financial's effort represents a genuine breakthrough in business know-how and putting the ideal of inclusive finance into practice, said Xu Yuan, a professor at the National School of Development at Peking University.

Ant Forest encourages users to collect points for engaging in low-carbon activities, such as using public transport; after a certain number of points are collected, Ant Financial and its partners plant a tree as a contribution to China's efforts to prevent desertification. Alipay's Urban Services provides online access to government services.

Apart from the Changsha factory, the company has built four research centers, five flagship stores, and two product production factories respectively in Nanjing and Suzhou of Jiangsu province, employing about 1,200 locals in China.

Anta Group, a leading Chinese sportswear company, joined hands with livestreaming celebrity Li Jiaqi and CCTV anchor Zhu Guangquan to promote its sneakers under the theme of "trendy Chinese brands". Livestreaming offers live product experiences from influencers and has been effective during the epidemic in attracting younger consumers.

Apart from Red, other online retailers are wooing a large number of affluent Chinese consumers with a wide range of authentic and high-quality overseas products.