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As demand for face masks surges in China amid the outbreak, the nation is also ramping up efforts to increase production.

As for the risks from some market players that are "too big to fail," Guo said the regulators need to keep a close eye on those tech giants that have branched into financial business.

As a Big Four global accounting firm, PwC provides assurance, advisory and tax services to companies and governments all over the world. It serves clients in 158 countries and regions, including a number of Fortune 500 companies.

As The Wall Street Journal notes, a physical retail expansion could “imperil” Amazon’s already thin margins, given that the company would need to employ staff, secure leases and manage inventory. The size of the store and length of the lease were not known, though the WSJ said that the company could expand the concept if it proves successful in New York City.

As a curtain raiser to Singles Day, Alibaba announced its full lineup of shows and bargains in Shanghai last month.