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Another major purpose of the 0-million investment is to support the digital transformation and innovation of Chinese companies, said Dora Liu, managing partner of Deloitte China Eastern Region.

Apart from the core consumers aged from 23 to 28, those under 22 are increasing rapidly, now accounting for about one fourth of the consumers on Tmall, the online marketplace. Men are also paying more attention to skin care than before, the Alibaba and CBN Data report said.

Another way to look at public cloud numbers: Even with the growth by Microsoft, Google and IBM,?Amazon’s market share is still more than those three closest rivals combined.

Apart from the contributions of Jayaram, senior partner in McKinsey's Nairobi office, the report is also the work of Omid Kassiri, another Nairobi partner, and Irene Yuan Sun, engagement manager in the company's Washington office. Sun is also the author of the book The Next Factory of the World: How Chinese Investment Is Reshaping Africa.

Apart from companies that already have a large number of ANDA approvals－such as Shanghai Fosun Pharmaceutical Group Co Ltd and Jiangsu province-based Novast Laboratories Ltd－an increasing number of Chinese companies are strengthening their presence as they go global and win ANDA approval.