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"Chinese consumers are becoming more rational, and they are not blindly following the crowd to imitate others," said Zhao Ping, deputy director of the Chinese Academy of International Trade and Economic Cooperation of the Ministry of Commerce.

"Covid" is now the word of the year.

"Chinese B2B companies today care more about their reputation and sustainable connection with partners and consumers in overseas markets. They are keen to transform their products into brands," said Cai, adding digital marketing methods are key to restoring their earning ability in a smart way.

"Currently, China is shifting its focus of opening-up from trade in goods to trade in services. During the first seven months of this year, China's trade in services stabilized, trade deficit decreased and knowledge-intensive industries grew despite the challenges brought by COVID-19.Services trade has become a new bright spot in the development of international trade," he said.

"Chinese tax system reform will continue to deepen this year, with more aggressive tax cut plans. But the key is to balance relationships between fiscal income and expenditure, as well as between the central and local governments," said Deng Liping, a professor from the school of economics at Xiamen University.