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"Consumption will stay robust on the back of higher incomes and is expected to stay a pillar for economic growth next year," said Li Huiyong, an analyst at Shenwan Hongyuan Securities.

"Combining Sephora's global brand resources with our technologies in 'New Retail' (that is, the merger of online and offline commerce), the tie-up is bound to bring customers a synchronized, rich variety of cosmetic products and experiences," said Liu Peng, president of Tmall's import and export business unit.

"Compared to the downturn seen in smartphone demand and many other segments in the first six months of this year due to the devastation caused by COVID-19, the smartwatch remains a popular consumer device segment," said Sujeong Lim, senior analyst from Counterpoint Research.

"Cultivating talents in the Guangdong-Hong Kong-Macao Greater Bay Area should start from students. If students can learn in an entrepreneurial environment, we can create a better ecosystem of entrepreneurship," Clement Tang said.

"Creating a business environment with more respect and protection for intellectual property is going to be very important. We can engage much more, with a higher safety level when intellectual property is better respected here," said Christiansen.