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"China's demand for IDCs will see a rapid rise as the country expedites the use of 5G and internet of things technologies. We expect the market volume of China's IDC industry to grow around 30 percent year-on-year from 2019 to 2020, hitting 200 billion yuan (.5 billion) in 2020," Wang said.

"Consumption is expected to rise around 2 percent year-on-year in July as China's consumption market will further warm up in the second half," Tang Jianwei, chief researcher of the Bank of Communications, told the paper.

"China will push reform and opening-up more actively, and deepen State-owned enterprise and asset as well as fiscal and financial reforms, to implement major opening-up measures previously fixed," said a statement released after a meeting last month of the Political Bureau of the Communist Party of China Central Committee.

"China will briskly foster new growth drivers, improve technological innovation, push for upgrades of traditional sectors, and foster innovative, leading businesses," according to a statement of the key meeting.

"Chinese shoppers have become more rational, and they are not blindly following the crowd to imitate others. They want products with both commercial culture and consumer mentality," said Pan, adding localization of global brands must keep pace with the times to stay competitive in the fast-changing Chinese market.