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And all of that activity comes as Microsoft is preparing to renovate its massive Redmond, Wash. headquarters campus. Microsoft also recently announced plans for a new 0 million Canadian headquarters in Toronto, joining other tech giants like Google and Uber in planting flags in the city.

And the pavilions joined hands with China's e-commerce giants, such as Suning and JD.com, he added.

And in a sign of significant change, this year, for the first time, a majority of US consumers — 54 percent — say they will do the bulk of their holiday shopping online, according to PricewaterhouseCoopers.

Analysts predicted that China's commercial space sector, including rockets, satellite applications, and space-to-ground internet connections, is still in its infancy, but it will grow into a multibillion dollar market by 2020.

Analysts say the rapid growth is expected to further fuel Hongqi's efforts to reshape its brand, deliver innovation in styling, and accelerate research and development of products and technologies.