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App Annie also forecasted that the shopping frenzy will break the world record in mobile e-commerce sales.
Apart from the 500,000 yuan yearly salary, annual bonuses and tenure incentives will be awarded based on performance.
Another industry organization, the China Association of Automobile Manufacturers, had the same estimate. Its executive vice-president Fu Bingfeng told Reuters that the fall could reach 10 percent in the first half of the year.
Another clear signal from the leadership is that the China Central Television's flagship daily news show Xinwen Lianbo has covered the A-share market several times this year, which was rare in its history. The latest coverage was on Aug 8 where CSRC Vice-Chairman Li Chao said the A-share market's capacity to withstand external risks is increasing, citing the market's low valuation and reduced leverage risks, along with relatively stable investor sentiment despite trade frictions with the US.
Apart from the continuing driving force of innovation, the rise of Chinese consumers is also "crucial for China's sustainable success," said the economist.
来源：资阳报