"Ten years ago, people said e-commerce would not take off in China. But as soon as you overcome the payment barrier, consumers here are so much more ready than in other countries to take it on."

Richard Mckenzie, A partner at consultancy Oliver Wyman. Online retail volume reached over 1.4 trillion yuan ($203 billion; 185.98 billion euros; ￡157.53 billion) in the first three months of the year, up 32.1 percent year-on-year and more than double the pace of total retail sales, the Ministry of Commerce said on April 26.

"China mini karaoke market will grow to over 1 million houses in three to five years."

Lei Yifeng, WOW mini KTV's product director. Mini karaoke houses are being rolled out in shopping malls, cinemas, restaurants and even tourist spots in an effort to win back the past glory of KTV bars, which dominated the entertainment market from the early 2000s to early 2010s.

"Signing this memorandum of understanding fits into our vision of a new kind of internationalism. ... It deepens our relationship with the World Bank Group and sets up the mechanisms through which we can more easily collaborate and share information. We place a high value on our partnerships because, by working together, we greatly increase our potential for positive outcomes in Asia."