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"Coupled with the AWS China (Beijing) region, the second AWS China region will serve as the foundation for new cloud initiatives in China, especially in western China, helping to transform businesses, increase innovation and enhance the regional economy," said Andy Jassy, CEO of AWS.

"Costco is good at building a loyal shopper base through its paid membership program with low prices and a select number of stock-keeping units. The question is whether they can replicate this in China easily," said Jason Yu, general manager of Kantar Worldpanel China.

"Currently most consumption in China is focused on products, such as food, garments and healthcare products and there is little consumption for services, showing that China's consumption growth is still in its initial stage, with considerable room for growth," said Fan.

"Chinese customers have embraced buying big-ticket items online because it circumvents hours spent at a physical dealership negotiating with sales staff," said Qi Xiaozhai, a senior business consultant for the Shanghai Municipal Commission of Commerce. "It has made prices transparent and traceable."

"China's economy will be transformed from old to new by involving innovation and supporting policies, by how structural transformation can be promoted in more places, how new technologies, industries and formats can be continuously conducted and changed in various sectors," said Zhang Yansheng, secretary-general of the academic committee of the National Development and Reform Commission.