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Around 2025, the China's richest man's personal wealth will match the US' richest man's, and will be in race to be the world's richest man, China's business magazine New Fortune said.

Apple's iPhone became all the rage at the market under the new policy. An iPhone 11 Pro Max with 512 gigabytes of storage was priced at 10,210 yuan in Hainan's duty-free shops, some 2,489 yuan lower than the price on Apple's official website.

As Beijing's first department store built in 1955, the Beijing Department Store has been struggling to survive, as e-commerce has reshaped the country's retail landscape. Companies sell things online at lower margins, and Chinese consumers have become used to clicking on their smartphones and having their goods delivered to their doorstep.

Arriving in a strange land as a shy boy, Wang tried to embrace what the country and the school had to offer.

As China's laws require digital information to be stored within the country, Google, having no data centers in the Chinese mainland, needs to use the domestic data centers and servers provided by local partners to offer its internet-based services, such as Drive and Docs, to the market.