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"Consumption will contribute about 6 percentage points of China's GDP growth, which will reach 8.2 percent next year, according to our estimation," he said.

"Commercial banks should not overlook the importance of digitalization, including fintech and big data, with which they can advance the transformation of their retail banking business," he said.

"Chinese bearing companies should have the confidence in producing high- and middle-end products."

"Consumption at convenience stores is usually spontaneous. Their service is irreplaceable either by traditional stores or e-commerce's same day delivery," said Wang Hongtao, deputy secretary-general of the China Chain Store & Franchise Association.

"Chongqing plays a critical role in China's economy, especially in manufacturing," said Li Gang, head of the Robotics and Motion Division at ABB China, at the launch ceremony.