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"Coca-Cola has been trying to diversify its product portfolio to meet the new consumer demand while in the past it wasn't able to tap into the growth of the dairy sector, which is booming," Yu said.

"Chinese companies used to focus on generics, but now they have been building up R&D capabilities and many invest generously in innovative drugs."

"China's recovery is for real," the report said, although the recovery remains unbalanced to some extent and still lacks self-sustaining factors.

"Companies were required to go to certain offices and fill different documents to complete the licensing procedures, which is a time-consuming and labor-intensive task for investors from other cities," said Chen Pengyun, chairman of a Tianjin-based vehicle trading company.

"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.