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Due to the active integration of online and offline services in recent years, mobile payment, intelligent travel, livestreaming, short videos and catering takeaway have created new models of internet consumption. Besides, various internet applications have increased their penetration in fourth- and fifth-tier cities.

Dong Mingzhu, chairwoman of Gree Electric Appliances and a deputy to the 13th National People's Congress, answers questions in Beijing, March 8, 2019. [Photo/Xinhua]

Dong Dengxin, director of the Finance and Securities Institute at Wuhan University of Science and Technology, said that improving fundamentals institutions of the capital market is a crucial precondition and a key guarantee for its healthy development and achieving high-quality economic growth.

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Driven by government efforts in economic structural adjustment, the contribution of final consumption to economic growth reached 64.5 percent in the first nine months, up 2.8 percentage points from a year ago.