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"Consumption spending in both the home and global markets is expected to rise at a fast pace this year, pushed by China's ongoing consumption and industrial upgrading, as well as the emergence of new industries, including e-commerce, 4G and 5G technologies, mobile payment, virtual reality and the sharing economy," said Zhou.

"Chinese customers are looking for healthy, vibrant, segmented and functional items when they choose their dining options," said Ling Jin, director of market development China ingredients at Fonterra China, adding the company has developed two indigenous, patented probiotics that can be used in future product co-creations.

"Chinese companies have gained an upper hand in large-screen LCD displays. South Korea's Samsung and LG have announced they will exit from the LCD sector, which means Chinese panel makers will take a dominant position," said Li, adding that the South Korean firms will focus on OLED and QLED(quantum dot light-emitting diode) displays.

"Compared with tissue and other paper products, toilet rolls are in urgent need and have become the majority of our products to be shipped to overseas markets such as the United Kingdom, the United States, Singapore and Australia this year," Zhang said.

"Compared to our competitors that also come from outside of China, we are the only one with fully-owned labs in China. This is in our opinion to the benefit of the PV-industry," said Therhaag.