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"Creating value rather than pursuing a larger scale has become the No 1 target of most Chinese companies," he said.

"Consumption has a greater role to play in stabilizing growth, and the commission will take more measures to boost domestic demand and unleash gigantic domestic market potential," he said.

"Cross-border acquisitions, which may go along the Belt and Road countries and regions, or be related to the buyer's core line of business, or has the potential to create synergy effect, are essentially encouraged and welcomed by Chinese policymakers," Wu noted.

"Creative transformation is the way to include traditional Chinese culture into future civilization of mankind."

"Compared to sitting in an office, being self-employed makes me feel like I can use all my energies on working for things that I'm really interested in," explained one short video producer who preferred not to be identified.