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As a result, the company's sales have fallen drastically. Last year, it sold just 230 ATMs, a year-on-year decline of 89 percent.

As he further explained, the effects of China shifting toward a consumer-led economy combined with increases in traditional manufacturing costs, the need for innovative improvement to consumer experiences, and the drive for more efficient processes have resulted in an increased demand for innovative technologies.

As growth slows amid competition, company seeks new investment

As for how to reduce the overuse of plastic bags in the e-commerce industry, 59.6 percent of respondents suggested online retailers provide more packaging options to consumers, instead of proactively offering them; 58.7 percent proposed popularizing the use of shared green packaging boxes, which can be recycled after the delivery of goods; and 56.7 percent advised online retailers to simplify packaging.

As a state-level development zone established in 1992 in the northwest of Hainan, the Yangpu Economic Development Zone is expected to develop into a growth point of Hainan's high-quality development and a pilot zone of Hainan free trade port.