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"China's per capita income will continue to rise and supply of quality goods will increase, which will further support consumption upgrading", which in turn will contribute to the country's high-quality development, it said.

"Competent departments and local authorities need to carefully study how to prepare for effective projects. They should make accurate and meticulous calculations and take new measures to ensure that the investment will be cost-effective, and contribute to greater development and better livelihood," Li said.

"Chinese internet giants are leveraging their own capital and technological advantages to create retail ecosystems, while consolidating offline spaces and upstream and downstream industries to maximize their competitive edges," said Jennifer Ye, PwC China consumer markets leader.

"Currently, liquidity conditions in China are loose, and the country has lowered interest rates to help revive the economy. Under the present circumstances, the rally in the stock and housing markets will cause some investors to seek funds from banks by violating laws and regulations to invest in these markets, in the hope of making huge profits from speculation," Lian said.

"China, along with Latin America and the Caribbean region, has built a bridge for exchanges of content and intercultural communication. The web is the main platform used," he added.