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"Consumption is expected to contribute over 80 percent of GDP growth in 2019," said Guo Xiaobei, a researcher with China Minsheng Bank. The proportion was 76.2 percent in 2018.

"Chinese companies, especially private enterprises and SMEs, should not be anxious or impatient. Opportunities still outweigh challenges for Chinese manufacturers to go global in the post-COVID-19 period."

"China's strengths are mainly shown in AI applications and it is still weak on the front of core technologies of AI, such as hardware and algorithm development," the report noted. "China's AI development lacks top-tier talent and has a significant gap with developed countries, especially the US, in this regard."

"Chinese companies should look beyond the domestic market in business expansion. They need to invest as quickly as possible in the global culture and creative industry," he said.

"China sits in top place in the world in terms of newly grown forest area during the past five years. We're aiming to grow another 6.66 million hectares this year," Zhang said.