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"Consumers now have higher expectations for online-to-offline business," said Bruno Lannes, a partner at Bain & Co, the global management consulting firm, in China. "Retailers must come up with new models."

"Clearly the coronavirus is not gone. In fact, we have got it worse now than we had it in the spring I believe, and I think that's true in a lot of other states," McConnell said at a news conference, adding the country needs another relief package.

"Considering the increasing number of infrastructure projects and the rebound in real estate investment, sales of excavators are set to rise by 40 percent to 50 percent on a yearly basis in July," Kong said in a recent CICC report. "We believe the construction machinery sector will witness steady growth in the next two years."

"Compared with the previous years, we have seen investment growth slow in manufacturing due to many factors," Meng said.

"Consumers nowadays have become increasingly sophisticated and therefore look for value before paying a premium price," Li said.