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But the place, whose name means Fishermen village, where the local people depended on fishing in the early 1980s, has undergone tremendous change in the past few years. That is especially so since CPC General Secretary Xi Jinping visited in late 2012 and subsequently encouraged reforms benefiting the area.

By 2020, China aims to quadruple its GDP from the level in 2000. Last year, in terms of stable prices, GDP was more than four times higher than in 2000, meaning the country met the 2020 goal ahead of schedule, Hu said.

But these trends are not as new as one might think. A report by Tencent last year found that consumers aged between 18 and 24 increasingly prefer spirits and whiskey. Data by food delivery platform Eleme shows that in the first half of 2019, cocktail orders in the southwestern city of Chengdu saw a year-on-year increase of more than 150 percent.

But things began to change in the 1990s, He said, when the local government began putting wealth acquired via the reform and opening-up into elderly support.

But the price of an 8K TV is more than four times higher than a 4K set. Chen told China Daily that Foxconn will release a new 8K TV this year at a price equivalent to 4K sets, or even cheaper.