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"FMCG sales growth came from innovative versions of existing products. It's not as if consumers are shifting from top-end items to mid-range or low-end categories.

"FAW Car Co Ltd, another holding subsidiary of FAW Group, was not involved in the suspension, which may imply FAW Group has been planning to sell its assets," an industry insider said on Monday, 21st Century Business Herald reported.

"Domestic consumers' demand for healthcare, fashion, jewelry, dairy and agricultural products, digital household appliances and science and technology services will continue to surge in the long run," said Guo, who stressed that European and United States companies have already begun to invest more in China's research and development, design and sales channel expansion and forming new partnerships with domestic firms.

"Emerging markets are hungry for trade opportunities, infrastructure improvement, appliances and electronics," said Han Guomin, chairman of COSCO Shipping Specialized Carriers.

"Data is really what we are offering as a company," says Miller, adding that such information gives their staff a "huge advantage".