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Compared to traditional retail, Tang said new retail has more precise insights on consumers to encourage purchases, and added figuring out an appropriate consumption scene and providing a better experience for consumers are crucial to achieve success in the new business format.

Combined revenues of all listed companies on the market stood at 20.81 trillion yuan ( trillion) in the first half, while the net profits were about 2 trillion yuan, both rising by more than 10 percent year-on-year, new data from the bourses showed.

Commenting on the 6.8 percent year-on-year drop China officially announced in its gross domestic product in the first quarter of this year, the banker said the reported January-March period was "the peak time of the (COVID-19) outbreak, but China has a robust economy and with the restart of the economic activity, the country will go back to a positive trajectory, gradually."

Companies upbeat on 2-year-old new area as goals in place for development

Coming out of this this years’ experience, which telegraphed how the cloud will figure prominently into enterprise plans, here are three trends that we expect for 2014 in the enterprise technology market.