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And he's already imposed tariffs on billion in Chinese imports in a separate dispute over Beijing's high-tech industrial policies. He has threatened to ratchet that up past 0 billion.

Analysts believe that China's sharing economy is on the rise, and high rate of growth is forecast to continue over the next few years.

And 87 percent of Kuaishou's users are from the post-'90s generation or the so-called millennials. "We are devoted to recording the daily life of ordinary people, giving them a stage to express themselves," said Su, adding the app aims to improve the user experience and attract more new users.

An outdoor experience zone will also be added this year, featuring activities like unmanned driving experiences, to forge a stronger connection between merchants and prospective buyers.

And as part of this, Victoria University signed a memorandum of understanding and an agreement on training talent with the Beijing Film Academy.