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"Chinese brands have performed exceptionally well in certain categories like fresh dairy, and their agility in responding to market demands can lead the 'premiumization' trend in the future," said Jason Yu, general manager of Kantar Worldpanel in China.

"Chinese consumers are shopping across seven different store types and we believe there are still opportunities for brick and mortar retailers," said Jason Yu, general manager of Kantar Worldpanel China. The key is how the retailers adjust to the changes in China and revise their store formats and accelerate digitalization.

"Contrary to the accusations made by the prosecutors, I never received any compensation from Nissan that was not disclosed, nor did I ever enter into any binding contract with Nissan to be paid a fixed amount that was not disclosed," the 64-year old said.

"Confronting a grim situation both at home and abroad, China will come up with more targeted measures to boost consumption, such as promoting new types of consumption and creating a better consumption environment," said Qian Fangli, director-general of the department of electronic commerce and informatization at the Ministry of Commerce.

"Currently, investors are interested in the chip industry, but it is important to ensure the right investment direction. It is important not to put all the money into semiconductor design. China is lagging behind advanced countries in chip material, equipment and manufacturing, all of which need heavy resource inputs," Ding said.