Chinese e-commerce giant JD.com reported robust sales during the Chinese New Year holiday as consumers upgrade their online shopping for food and gifts.

Chinese e-commerce giant JD has acquired Beijing Jade Palace Hotel for 2.7 billion yuan ($397.6 million), with an aim of transforming the five-star property into a new office building and innovation center.

Chinese e-commerce giant JD reported robust sales during the Spring Festival holiday due to the growing demand arising from consumption upgrade and the rise of middle and high-income shoppers.

Beijing Electric Vehicle Co, China's largest electric car producer, has vowed to continue moving upmarket as customer demands change in China.

The Chinese car market has become increasingly mature in recent years, and 2018 saw an overall decline. However, the premium car market continued to show momentum, and several new players have come on the scene to compete with long established automakers, which is certain to mean intense competition this year.

In September, a train carrying porcelain and tea pulled out of the railway station in Jingdezhen, Jiangxi province, headed for Moscow in Russia. It marked the first time Chinese porcelain had been sent overseas on a China-Europe freight train. The train, which carried 43 containers packed with $3 million worth of products, arrived in Moscow 14 days later, having covered 10,257 kilometers.