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"Every 100 Chinese households in rural areas owns 43.8 units of air conditioners, while each (group of) 100 urban families has 124 units. In Japan, every 100 households owns 272 units of air conditioners, so China's air conditioner market still has a lot of room to grow," said Yang Jie, general manager of industry consultancy ChinaIOL, adding the rural and urban markets show different demand characteristics.

"During the pandemic people have faced a lot of pressure as they worry that they or their relatives may become infected or lose their jobs because of the economic slowdown. In these circumstances music can play a positive role."

"Cybersecurity is the top challenge for the industrial internet, which is entering the fast lane in China, and more efforts are needed to better solve the problem," Qi said.

"Each nation, big or small, benefits from competition. Free trade is the basis for creating wealth but also basis for well-being and peace," he added.

"Energizing the market is a key step in countering the downward economic pressure. We will continue with the tax cuts and reform of government functions for a better business environment in China," Li said.