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Retail sales of consumer goods grew 9.7 percent year on year, faster than the same period last year.
Kunming, capital of southwest China's Yunnan Province, held the South and Southeast Asia Commodity Expo and Investment Fair last year, with more than 500 billion yuan (79 billion U.S. dollars) in deals signed.
"We need to keep pushing for and improving global governance to deal with this challenge," he said.
The power of consumption will likely continue due to improve people's incomes. Morgan Stanley expects China to gain high-income status as early as 2025.
As profitability improved, the company's share price surged more than 105 percent in 2017 and more than 10 percent so far this year.
