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But insiders are optimistic that B&B standards will improve down the line with the infusion of professional managers, said Yang Deliang, deputy head of tourism in Deqing county, Zhejiang province.

But Zhou said that with build-operate-transfer projects and Public-Private Partnership modes becoming more and more popular, the Chinese companies are now also taking into account other factors, such as a projects' life cycle and long term returns－as they also began to operate what they had built overseas.

But nostalgia alone is not enough to revive Chinese fashion. It needs new blood to make the past a trend of the present and the future. Yoho! Buy is one such e-commerce platform that is encouraging Chinese designers and local brands to steal the thunder from foreign brands. Last October, Yoho! Buy, an online platform selling fashionable clothes and accessories, launched its first store in Nanjing, Jiangsu province.

But Huawei has grown to dominate its domestic market, boosting its Chinese shipments by 8 percent in Q2, and it now sells over 70 percent of its smartphones in the Chinese mainland. China has emerged strongest from the coronavirus pandemic, with factories reopened, economic development continuing and tight controls on new outbreaks, Canalys added.

But maybe not all is lost. And here’s an idea that’s perhaps as crazy as some of the cinematic twists that unfolded in the palace of cinema since it originally opened in 1963: