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Analysts said whether or not digital book sales would see significant growth depends on the range of content on offer in the market, not just the features of a device.

And British online retail group Asos also pulled out of China in 2016 after it failed to compete with large, native e-commerce retailers.

Andrew Sheng, distinguished fellow at the Asia Global Institute at the University of Hong Kong, believes the increase in consumer confidence in China in January will herald a recovery in growth.

Analysts said the decline could be even deeper in the whole year, considering a high comparative base last December due to the rush to take advantage of a purchase tax discount.

Analysts said steering towards green packaging is the long-term trend for the courier sector although it still needs time to achieve a complete transformation.