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Consumers in lower-tier Chinese cities are now willing to spend in a Western style fast food chain and the lower rental and labor costs ensures good profit margins for operators, according to data from consultancy firm McKinsey.

Consumer price index, a main gauge of inflation, went up 2.4 percent year-on-year in May, 0.9 percentage points lower than the previous month. Core CPI, which excludes the prices of food and energy, increased 1.1 percent, the same level as April. 

Cosgrave said he expects China to produce many globally leading tech startups in the coming years, judging from the nation's heavy investment in technology and research, which he sees as an "important forward indicator" for market trends.

Considering the changes in recent years and the current trends, the main possibilities surrounding the upcoming polls are interesting.

Country targets rivals to shift attention from own problems, says commentator