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"Furthermore, China is shaping up to be the world's second-largest economy. These people have not experienced material shortage and they have no intention to do so," Feng added.

"For Haier's household appliances that are exported to the US, the proportion of products manufactured in the local market is much higher than those produced in China. Appliances of GE, which is one of the largest appliance brands in the US and owned by Haier, are favored by local consumers in the medium and high-end market," said Liang Zhenpeng, an independent consumer electronics analyst.

"Globally, as well as in China, a key bellwether, smartphone consumers are trading up to more premium devices, but there are no longer as many new smartphone converts, resulting in shipments dropping," said Melissa Chau, associate research director with IDC's Worldwide Mobile Device Trackers.

"Financial institutions will issue more A-share exchange-traded funds (ETFs) to attract overseas capital inflows into the country's stock market. Whether capital inflows into the A-share market can be sustained depends on the performance of these A-share ETFs based on the stock valuation level, and the market dynamics of the A-share market," Shum told China Daily.

"General practitioners are in severe shortage in China's rural areas. We hope AI can help more people access quality medical resources," Liu said.