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"China's livestock transition is massive, in terms of its scale and speed," said Bai.

"China's economic development will increasingly depend on domestic circulation, and the exports-to-GDP ratio will gradually decline to the levels of the United States and Japan," he added.

"Chinese consumers have shown growing awareness of their health conditions since the outbreak of COVID-19 earlier this year, and they have indicated a higher recognition of TCM. Besides, the government is increasing its support of the TCM segment ahead of the country's Healthy China 2030 initiative," he said.

"Chinese people prefer to drink wine in bottoms-up fashion and they often order wine for a large table," said Tang. "There's no time for decanting."

"Consumption contributed to about 64.6 percent of China's economy in the past year, and services have surpassed manufacturing in terms of contribution to growth, signaling that China is performing well in its supply-side structural reform. But investment still needs to be consolidated in maintaining steady economic growth, especially in areas of infrastructure and the real economy," Wen said.