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Angie Hicks is the co-founder and chief marketing officer of Angie’s List.

And starting this month, Chinese visitors will be able to buy goods with the mobile payment platform WeChat Pay.

Analysts said government support for entrepreneurship and innovation has provided a major boost for tech firms and startups and allowed them to survive and thrive amid downward pressures on the broader economy. The performance of listed companies is considered a leading indicator of China's economy, which expanded steadily at 6.7 percent year-on-year in the first three quarters, well above the 6.5-percent annual target.

Analysts say its slow introduction of new models was another contributing factor.

Analysts said China is now transforming from the phase of rapid development to a new stage of high-quality development and shifting its focus to nurturing technological innovation and further opening up its economy.