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"Consumption has contributed at least 75 percent to China's GDP growth for the last five consecutive quarters, despite slowing since the second quarter of 2018. Going ahead, consumption will become a major incentive to boost China's economic growth," said Zhou Wenqun, a manager at consulting agency Fidelity International.
"Chinese companies need to make essential moves now including deciding where to play, developing a road map to access the tech stack and deciding the right alliance and ecosystem strategy," Thomas said.
"Computer vision technologies are being increasingly used in the security and surveillance sector. And its use in smart retail, such as face-recognition-enabled payments, is also very fast. China excels in applying cutting-edge technologies to daily consumption scenarios," Song added.
"Coal-fired plants have been hit by high coal prices, overcapacity and competition, while renewable energy and nuclear power will continue to grow, supported by government initiatives," said Ivy Poon, a Moody's senior analyst.
"China's trade in creative goods between 2002 and 2015 has been exponential, with average annual growth rates of 14 percent," the report said. "In 2002, China's trade in creative goods was billion. By 2014, this figure had increased more than fivefold, tallying 1.4 billion."
来源：资阳报