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"Chinese consumers are more willing to spend money on cosmetics and skincare products, and more people are paying attention to the quality of products," said Neil Wang, president of consulting firm Frost & Sullivan China.

"Consumption plays a fundamental role in China's economic development and is the primary driving force behind the economic growth," said Ning Jizhe, head of the National Bureau of Statistics, adding that the steady growth in the income of residents will boost consumption.

"China will become one of the world's hottest IPO markets," said Amanda Zhang, PwC China private equity partner.

"Chinese customers are looking for healthy, vibrant, segmented and functional items when they choose their dining options," said Ling Jin, director of market development China ingredients at Fonterra China, adding the company has developed two indigenous, patented probiotics that can be used in future product co-creations.

"Compared with cases in Beijing, patients here in general had more serious conditions, which demand higher skills," she said. "Many of them had their conditions worsened due to delays seeing a doctor."