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In terms of where to buy products, Yu said though online shopping is the most-preferred source for high-end consumption, traditional channels such as brick-and-mortar supermarkets are still relevant for several daily consumers. The online-and-offline omni channels have stimulated the market growth, offering more convenience and more consumption power to shoppers. More than 63 percent of shoppers have spent money on multiple consumption channels, according to a Kantar's report on consumption trend in China.

In response to the UK's decision to provide a pathway to residency and citizenship for Chinese nationals in Hong Kong who hold a British National Overseas passport, or who are eligible for one, China's Foreign Ministry said on July 24 that China will consider withdrawing recognition of BNO passports as valid travel documents.

In pushing forward East Asian cooperation, all parties involved must remain open, inclusive, focus on cooperation and jointly cope with challenges, he said, adding that China will support Vietnam as the rotating ASEAN chair in 2020.

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In response, Huawei is reportedly shifting production of HiSilicon-designed chips away from TSMC to Shanghai-based Semiconductor Manufacturing International Corp, or SMIC.

In response to the US announcement to impose additional duties on Chinese imports, the Customs Tariff Commission of the State Council announced it would levy additional tariffs for 545 items worth about billion, including agricultural products, vehicles and aquatic products, starting July 6, 2018.

In recent times, Chinese investment, especially that of venture capital firms, has faced strict reviews from the United States, Europe and other countries. So, many of them switched to the Indian market. The Indian side may think it is difficult for China to fight back at this critical time.

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In response, a KCNA report in English on Saturday said as Abe "fails to distinguish a missile from multiple-launch rocket system while seeing the photo-accompanied report", he "may see what a real ballistic missile is in the not distant future and under his nose", citing a senior official of the DPRK Foreign Ministry's Department of Japanese Affairs.

In response, Pyongyang said issues should be resolved through dialogue to promote reconciliation and unity and secure peace on the peninsula.

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In terms of new market opportunities, he said Bayer regards digital technology as one of the key areas. Digital farming plays an essential role in the high-quality development of agriculture in China, and it is also the global innovation direction of Bayer Crop Science.

In recent years, China has made progress in the reduction of tax and fees charged to businesses. It continues to bring order to various charges and more than 3 trillion yuan was reduced for companies in the past 5 years, including a totaled 2.1 trillion yuan of reduced tax by replacing business tax with value-added tax and relevant tax incentives for small and micro enterprises.