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"Compared with many countries, the third pillar has seen relatively slow growth in China, taking up a low proportion within the whole pension system and providing far from adequate support for retirement funding," Guo said at the Annual Conference of Financial Street Forum 2020 in Beijing in October.

"Considering the expanding value-added industrial output in May and the positive service production index, China's economic growth is expected to bounce back in the second quarter with a modest growth," Tang said.

"Credibility in the virtual world is as important as that in reality, so our fight against online violations must be strengthened," Zhu Wei, an associate professor of law at the China University of Political Science and Law, told China Daily on Tuesday.

"Clearly June 18 being a shopping period rather than a day aims to provide customers with ample time to make purchase decisions, which is also a way to set it apart from the Singles Day," said Neil Wang, president of consultancy Frost & Sullivan China.

"China's smartphone market is forecast to drop 12 percent in 2018, which definitely weighed on all vendors, but it is worth noting that even within such a tough situation, Chinese players Huawei, Xiaomi Corp, and Vivo all managed to maintain growth in the first nine months of last year. In the same time frame, Apple, however, dived 12 percent," Jia said.