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"Currently, local governments all turn to digital platforms such as Alipay and WeChat to hand out consumer vouchers online. According to incomplete statistics, Alipay and WeChat each have over 1 billion users. They have built up wide-ranging digital life networks with multiple functions," he said.

"Collaboration is of mutual benefit to our company and the academic world," Gao said. "We offer business insight and data, while the schools provide cutting-edge research and expertise.

"Chinese consumers want diverse, quality products, and a nice consumption environment," said Yu, adding that spending on health, convenience and personalized lifestyle products has risen.

"Cruise enterprises and tourists are full of expectations on the new project, which will further broaden the room for tourism consumption," said Xie Xiangxiang, an associate professor of tourism at Hainan University. He said there will also be challenges in securing cruise liners, competitive prices and attractions that well combine cruise services with Hainan's unique maritime resources.

"China's economy has reached a point where it cannot be adversely affected by trade protectionism of the certain country. China now has the largest foreign exchange reserve in the world," Cairo-based economic expert Abu Bakr al-Deeb told Xinhua.