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China has witnessed new growth opportunities in new types of online cultural consumption in fields such as livestreaming, gaming and short videos amid the COVID-19 outbreak, which will reshape the traditional cultural consumption market in the long run, a new report said.
China is expected to produce trillion in GDP in 2017, thus keeping its status as the second largest economy in the world and contributing as much as 30 percent to the global growth, noted Qian Bo, the Chinese consul general.
China is the fastest growing market, and is projected to have 10 million cruise passengers by 2026, said He.
China is bucking the relatively gloomy trend for luxury sales globally dampened by the COVID-19 pandemic. In the case of Burberry, the Chinese mainland grew in the mid-teens in quarter one but grew ahead of the January pre-COVID-19 level of 30 percent in June, according to company figures.
China is contemplating more measures to improve the overall business environment for foreign companies focused on the services sector, including a lower cross-border investment threshold, a leading think tank said on Tuesday.