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"China's smartphone market is declining because consumers are holding on to their phones for longer, operators like China Mobile have reduced their smartphone subsidies, and device makers such as Huawei have launched fewer 'wow' models to tempt shoppers back into retail stores. Some consumers are finding their smartphones 'good enough" and are pausing on upgrading," Neil Mawston, executive director at Boston-based Strategy Analytics, said in an email.

"China's market for vitamin E is significant. Demand for vitamin E in the feed industry is high, and China is now the second-largest feed producer in the world, producing 150 million metric tons of feed in the first seven months of 2019, up 4.2 percent year-on-year," Bos said.

"China will further open up some non-convertible items under the capital account, and those already convertible will see tradings more liberalized," said Pan Gongsheng, deputy head of the People's Bank of China, at a forum in Shanghai.

"Chinese people are more open to new technology, while the French like to do things the traditional way — that's why I see my product standing a bigger chance here than in France," Dessain-Gelinet told China Daily in his office at an incubator in the Hongqiao area of Shanghai.

"China should keep deepening reforms and focus on transforming government functions to further bring out market vitality," Li said.