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"Counties and townships shall also be included when boosting rural consumption, as they boast enormous potential. High-end consumption in big cities should not be our sole focus," Li said, "County consumption capacity is still modest, yet it will grow and upgrade. Efforts should be taken to adapt to different consumer needs and improve people's lives."

"Chinese brands are at the forefront of innovation, and its global brand-builders are helping to establish 'Brand China' as innovative, cutting-edge and pioneering. China's insatiable appetite for new technology is fuelling the growth of many brand categories and powering innovation at an incredible pace," the report said.

"China's bike-sharing industry now enters a new stage of integration. Bikerental firms need to expand their business in an orderly way, improve the way of operating bikes and increase their profitability," said Raymond Wang, a partner at Roland Berger China.

"Chinese people are not only paying more attention to their health but also are more willing to pay for better experiences," said Tang, adding that those born in the 1970s and 1980s are his main client base.

"Conditions in the agricultural sector reportedly improved somewhat, but contacts were concerned about the effect of potentially higher tariffs on their exports," the Fed said.