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"China's evolving business environment and opening-up has contributed to Danone's steady growth in the country," he said, adding that the company believes that China's ongoing consumption upgrade and booming e-commerce business will benefit not just domestic sales, but also other parts of the world.

"China should prevent debt risks, and strengthen financial services' competitiveness globally," said Cao Honghui, a senior expert with the research department of the China Development Bank.

"Chinese consumers and especially millennials are looking for more than just buying an item off the shelf," ThreeSixty Chief Operating Officer Jan-Eric Kloth said in a statement. "They want to be engaged and entertained."

"Considering that the average basic consumption expenditure for residents in Chinese cities and towns is about 4,200 yuan a month per person in 2018, we set the minimum threshold of personal income tax at 5,000 yuan. It not only covers the expenditures but also leaves room for further increases in consumption," Vice-Finance Minister Cheng Lihua said at a news conference on Friday.

"Coocaa TV is a young brand, and we hope to convey the young generation's attitudes via the TV, which is our original intention behindupgrading the brand," said Tang Xiaoliang, chief brand officer of Shenzhen Skyworth-RGB Electronic.