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"Coocaa TV is a young brand, and we hope to convey the young generation's attitudes via the TV, which is our original intention behindupgrading the brand," said Tang Xiaoliang, chief brand officer of Shenzhen Skyworth-RGB Electronic.

"China's e-commerce has been a duopoly market for years. Against everyone's expectation, there came Pinduoduo, emerging with a completely different set of practices to engage with users," said Keso Hong, an independent internet commentator in China.

"China's inflation is expected to remain stable and there is little likelihood of seeing a significant increase since the economy remains sound," said an official from the National Development and Reform Commission who declined to be identified, adding that the effects of external pressures, such as commodity price fluctuations and potential tariffs, remain under control.

"China's online consumption surged significantly despite the coronavirus impact, effectively meeting the daily needs of residents and helping to promote the steady recovery of the economy," Gao added.

"Chinese carmakers are going to complete the deployment process of Industry 4.0 in less than two years, while their German counterparts took five years," Hecker said in an interview on Thursday on the sideline of the forum.