A shop owner presents two payment QR codes, one from WeChat and one from Alipay, at a food market.

Attendees use their smartphones as QR codes for various in-app games are displayed on a wall at Tencent Holdings Ltd.'s WeChat Open Class Pro conference.

An attendee stands in front of a screen displaying QR codes for various programs and services at Tencent Holdings Ltd.'s WeChat Open Class Pro conference.

Attendees at the WeStore booth at Tencent Holdings Ltd.'s WeChat Open Class Pro conference

Attendees walk through the WeChat Open Class Pro conference.

Attendees wait for the keynote speech to start at the WeChat Open Class Pro conference.

Attendees wait for the keynote speech to start at the WeChat Open Class Pro conference.

Attendees wait for the keynote speech to start at the WeChat Open Class Pro conference.

Attendees walk through the reception area at the WeChat Open Class Pro conference.

An inflatable ball featuring an emoji sits on boxes at the WeChat Open Class Pro conference.

Allen Zhang, senior executive vice president at Tencent Holdings Ltd. and founder of the company's WeChat app, speaks during his keynote speech at the WeChat Open Class Pro conference.

Attendees wait for the keynote speech to start at the WeChat Open Class Pro conference.

Attendees look at their smartphones in front of a WeStore sign at the WeChat Open Class Pro conference.

Attendees wait for the keynote speech to start at the WeChat Open Class Pro conference.

Attendees walk through the reception area at the WeChat Open Class Pro conference.

Attendees wait for the keynote speech to start at the WeChat Open Class Pro conference.

Attendees wait for the keynote speech to start at the WeChat Open Class Pro conference.

Employees stand next to digital screens at a showroom inside the JD.com Inc. headquarters. JD.com is China's second-largest online platform and has so far seemed to have avoided the Chinese government...

An employee walks past a digital screen at a showroom inside the JD.com Inc. headquarters. JD.com is China's second-largest online platform and has so far seemed to have avoided the Chinese government...

Employees stand next to digital screens at a showroom inside the JD.com Inc. headquarters. JD.com is China's second-largest online platform and has so far seemed to have avoided the Chinese government...

The logo for JD.com Inc. is displayed on a pane of glass at the company's headquarters. JD.com is China's second-largest online platform and has so far seemed to have avoided the Chinese government's...

An employee stands at a facial recognition station before entering a JD.com Inc. Unmanned Convenience Store inside the company's headquarters. JD.com is China's second-largest online platform and has...

Employees shop at a JD.com Inc. Unmanned Convenience Store inside the company's headquarters. JD.com is China's second-largest online platform and has so far seemed to have avoided the Chinese governm...

Employees shop at a JD.com Inc. Unmanned Convenience Store inside the company's headquarters. JD.com is China's second-largest online platform and has so far seemed to have avoided the Chinese governm...

Pedestrians walk towards the JD.com Inc. headquarters. JD.com is China's second-largest online platform and has so far seemed to have avoided the Chinese government's crackdown on its tech giants.

An employee stands behind the reception desk at the Alibaba Group Holding Ltd. headquarters in Hangzhou.

Joseph Tsai, co-founder and vice-chairman of Alibaba Group Holding Ltd., as well as the owner of the Brooklyn Nets basketball team, speaks during an interview at the company's headquarters in Hangzhou...

An employee stands behind the reception desk at the Alibaba Group Holding Ltd. headquarters in Hangzhou.

Joseph Tsai, co-founder and vice-chairman of Alibaba Group Holding Ltd., as well as the owner of the Brooklyn Nets basketball team, speaks during an interview at the company's headquarters in Hangzhou...

Employee walking in a garden outside at the Alibaba Group Holding Ltd. headquarters.

Employees at the Alibaba Group Holding Ltd. headquarters.

An employee stands behind the reception desk at the Alibaba Group Holding Ltd. headquarters.

An employee stands behind the reception desk at the Alibaba Group Holding Ltd. headquarters.

An employee takes a selfie in a garden outside at the Alibaba Group Holding Ltd. headquarters.

An employee takes a picture in a garden outside at the Alibaba Group Holding Ltd. headquarters.

Employees relax at a pool hall in the Alibaba Group Holding Ltd. headquarters.

Employees sit in a lounge at the Alibaba Group Holding Ltd. headquarters.

Joseph Tsai, co-founder and vice-chairman of Alibaba Group Holding Ltd., as well as the owner of the Brooklyn Nets basketball team, speaks during an interview at the company's headquarters in Hangzhou...

Joseph Tsai, co-founder and vice-chairman of Alibaba Group Holding Ltd., as well as the owner of the Brooklyn Nets basketball team, speaks during an interview at the company's headquarters in Hangzhou...

Joseph Tsai, co-founder and vice-chairman of Alibaba Group Holding Ltd., as well as the owner of the Brooklyn Nets basketball team, speaks during an interview at the company's headquarters in Hangzhou...

Pedestrians walk past a large advert featuring a QR code.

Employees purchase groceries and snacks at a Hema or Fresh Hippo store at the Alibaba Group Holding Ltd. headquarters.

An employee stops to talk to a colleague while using a shared bicycles at the main campus of the Alibaba Group Holding Ltd. headquarters.

Shared bicycles, used by employees, sit in a lot at the main campus of the Alibaba Group Holding Ltd. headquarters.

An employee in a garden outside at the Alibaba Group Holding Ltd. headquarters.

A group of employees outside at the Alibaba Group Holding Ltd. headquarters.

A group of employees outside at the Alibaba Group Holding Ltd. headquarters.

A shopper uses a smartphone at an Alibaba Group Holding Ltd's Hema or Fresh Hippo store.

A shopper uses a smartphone at an Alibaba Group Holding Ltd's Hema or Fresh Hippo store.

A smartphone displaying the Alibaba Group Holding Ltd's Hema or Fresh Hippo store app.

Haulage trucks line up in an unloading area of a ZTO Express Inc. sorting facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortunes swell as online shoppi...

An employee stands in front of a pile of parcels in an unloading area at a ZTO Express Inc. sorting facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortu...

Piles of packages and a sorting conveyer belt in the unloading area at a ZTO Express Inc. facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortunes swell...

Workers sort and monitor packages on a conveyor belt at a ZTO Express Inc. sorting facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortunes swell as onli...

Workers sort and monitor packages on a conveyor belt at a ZTO Express Inc. sorting facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortunes swell as onli...

Workers sort and monitor packages on a conveyor belt at a ZTO Express Inc. sorting facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortunes swell as onli...

Workers sort and monitor packages on a conveyor belt at a ZTO Express Inc. sorting facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortunes swell as onli...

Workers sort and monitor packages on a conveyor belt at a ZTO Express Inc. sorting facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortunes swell as onli...

Workers sort and monitor packages on a conveyor belt at a ZTO Express Inc. sorting facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortunes swell as onli...

Workers sort and monitor packages on a conveyor belt at a ZTO Express Inc. sorting facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortunes swell as onli...

Workers sort and monitor packages on a conveyor belt at a ZTO Express Inc. sorting facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortunes swell as onli...

Workers sort and monitor packages on a conveyor belt at a ZTO Express Inc. sorting facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortunes swell as onli...

Workers sort and monitor packages on a conveyor belt at a ZTO Express Inc. sorting facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortunes swell as onli...

Workers sort and monitor packages on a conveyor belt at a ZTO Express Inc. sorting facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortunes swell as onli...

Workers sort and monitor packages on a conveyor belt at a ZTO Express Inc. sorting facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortunes swell as onli...

Workers sort packages on a conveyor belt at a ZTO Express Inc. sorting facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortunes swell as online shopping...

A view of a unloading area at a ZTO Express Inc. sorting facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortunes swell as online shopping has grown in r...

Sacks sit tied to an automatic package sorting machine at a ZTO Express Inc. sorting facility. Package delivery billionaires, including the founder of ZTO Express, have seen their fortunes swell as on...

A woman and child stand still among the crowds of moving travellers heading into Shanghai Hongqiao Railway Station ahead of the Lunar New Year annual migration that sees hundreds of millions of people...

Travellers look at their smartphones while waiting for trains on the crowded main concourse at Shanghai Hongqiao Railway Station ahead of the Lunar New Year annual migration that sees hundreds of mill...

Travellers look at their smartphones while waiting for trains on the crowded main concourse at Shanghai Hongqiao Railway Station ahead of the Lunar New Year annual migration that sees hundreds of mill...

A sign for travel company Ctrip.com (part of the Trip.com Group Ltd.) displayed outside the Sky Soho building, which hosts the company's headquarters.

A sign for travel company Ctrip.com (part of the Trip.com Group Ltd.) displayed outside the Sky Soho building, which hosts the company's headquarters.

Jane Sun, chief executive officer of travel company Ctrip (part of the Trip.com Group Ltd.) at their headquarters in the Sky Soho building.

A portrait of James Liang, co-founder and chairman of online traffic at travel company Ctrip.com (part of the Trip.com Group Ltd.), on a promotional calendar in an office at the company's headquarters...

Photographs of staff pasted on an internal window at travel company Ctrip.com (part of the Trip.com Group Ltd.) at the company's headquarters in the Sky Soho building.

Employees monitor online traffic at travel company Ctrip.com (part of the Trip.com Group Ltd.) at their headquarters in the Sky Soho building.

Employees monitor online traffic at travel company Ctrip.com (part of the Trip.com Group Ltd.) at their headquarters in the Sky Soho building.

Staff on the reception desk of travel company Ctrip.com (part of the Trip.com Group Ltd.) at their headquarters in the Sky Soho building.

Infants using the urinals in a kindergarten (creche) catering to employees of travel company Ctrip.com (part of the Trip.com Group Ltd.) at their headquarters in the Sky Soho building.

Children getting ready for nap time in a kindergarten (creche) catering to employees of travel company Ctrip.com (part of the Trip.com Group Ltd.) at their headquarters in the Sky Soho building.

A member of staff plays with children in a kindergarten (creche) catering to employees of travel company Ctrip.com (part of the Trip.com Group Ltd.) at their headquarters in the Sky Soho building.

A sign for travel company Ctrip.com (part of the Trip.com Group Ltd.) displayed outside the Sky Soho building, which hosts the company's headquarters.

Employees take naps at their desks during lunch hour at the Wechat division of Tencent. Wechat is quickly becoming China's favorite social media tool and have already started to erode the income of in...

Allen Zhang, or Zhang Xiaolong, director of WeChat and vice-president of Tencent. Wechat is quickly becoming China's favorite social media tool and have already started to erode the income of internet...

Allen Zhang, or Zhang Xiaolong, director of WeChat and vice-president of Tencent. Wechat is quickly becoming China's favorite social media tool and have already started to erode the income of internet...