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Ant has branched out overseas aggressively in the past two years to fulfill its stated goal of serving 2 billion customers over a decade. The deal will take the total number of recipients of its technology-export model to eight economies, after agreements were reached with local players in India, the Philippines, South Korea and Indonesia.

Any speculative activity to short the Chinese renminbi will "inevitably suffer from a huge loss", according to Guo, who said short-term volatility of the currency is normal.

Another Chinese AI pioneer SenseTime Group Ltd is also setting up a hub in Abu Dhabi, the capital of the UAE, as its regional research and development center for expansion in Europe, the Middle East and Africa.

Another official, speaking under the condition of anonymity, said: "businesses like Vmate are exploring a better development path". No matter what happens to employees or capital adjustment, it should serve the company's strategic target.

Apart from the streamed sessions available to spectators around the world, the event will introduce a "See Now Buy Now" functionality, meaning viewers get to pre-order new looks from the collection in real time via their smartphones and wait for the parcel to be delivered.