Making a beeline for new economy

BEIJING - As China's "new economy" goes from strength to strength, more and more foreign firms are jumping in for a slice of the pie.

Shared bikes flood the city streets, diners pay for meals on their smartphones, electric cars whizz down the roads: in the rapidly shifting picture of China's new economy, foreign companies are not absent.

Apple is betting big on this emerging market. Three weeks ago, its mobile payment service Apple Pay launched its largest-scale marketing campaign since entering China, offering perks including up to 50 percent discounts on purchases for a week.