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Contactless financial services and digitalization will be an inevitable trend for banks and other financial institutions in the post-COVID period.

Cosmetics giant L'Oreal Group, likewise, is considered good at merging product customization with first-time buyers from smaller townships. Last year, a newly developed facial cream, riding the data analysis wave and targeting what is called the "small town youth" group, saw sales of 100,000 containers on the first day of its launch.

Consider these remarkable figures: China has 802 million internet users, 431 million micro-bloggers, 788 million digital smartphone users and four of the ten largest global internet companies. This colossal user base – combined with a handful of ubiquitous online platforms and e-commerce giants including WeChat, Tencent and Alibaba – results in cultural currents that flow at a blinding pace, spreading and evolving far more rapidly than on the rest of the web and creating a distinct internet culture that some have dubbed the "Chinternet".

Country confident of revitalizing economy as it faces challenges ahead, report says

Country a beacon for others as it promotes world peace, says Krenz