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As many as 65 percent of direct bank users were attracted by its products, while 49 percent were drawn in due to its marketing, said the report.

As of Friday, they had made deals for 130,000 tons of soybeans, 120,000 tons of sorghum, 75,000 tons of hay, 60,000 tons of wheat, 40,000 tons of pork and pork products, 25,000 tons of cotton, 5,700 tons of dairy products, 4,500 tons of processed fruits and 400 tons of fresh fruit. Chinese enterprises will apply to the Customs Tariff Commission of the State Council for exemption from tariffs.

As of last month, Huaye had produced goods worth almost 1.5 billion yuan this year, recording about 1.1 billion yuan in sales, according to data from the company.

As one of the leading hotel operators in China, the company has been on an impressive run acquiring hotels groups from abroad, including Louvre Hotels Group from France in 2015, as well as at home like Vienna Hotels Group in 2016.

As many Chinese people move into urban areas and become middle-income earners, they not only have greater discretionary income but also an interest in upgrading their spending to premium products. Within the agri-food sector, continued urbanization of the population and the demand for "greener", more sustainable products as well as nutritive functional foods will drive growth. The consumer wants to receive the best value for money, which we see being defined as the best quality even if it costs a little more. This trend needs to be supported by continued building of trust and transparency, and the businesses that can succeed in that will be the most successful for the future.