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Chinese consumers love hyaluronic acid products, and this is reflected in their shopping carts. On the June 18 online discount day, one of China's biggest shopping festivals led by Taobao, German beauty brand Balea saw sales of its beauty treatment capsules with hyaluronic acid hit 120,000 during the first hour.

Chinese female travelers tend to book various types of homestays, such as houseboats, cottages and serviced apartments. Increasingly, they prefer to travel alone. In 2019, Chinese female travelers who did domestic travel on their own increased more than 1.6 times year-on-year.

Chinese companies are now attaching more importance to localized management and organic growth in the domestic market, which will naturally translate into a global status, rather than focusing on growing international market share via mergers and acquisitions, said experts from JPMorgan.

Chinese males such as Zhang are driving the "he-economy", a term that refers to the rising consumption among men.

Chinese insurers grabbed headlines for using leveraged money to buy shares in listed companies, triggering sharp volatility in the market late last year.