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"China's textile industry urgently needs to figure out how to face the challenges brought by the new era of reform and opening-up," said Sun Ruizhe, president of the China National Textile and Apparel Council. He added that "technology, fashion, green" has become the new label for China's textile and garment industry.

"Concerns have been expressed that the adspend in China has been contracting over the past few years. It might be true if it comes to the traditional channels like print media. But the surveys have not included the numbers in the digital area like WeChat Moments, where the future lies," she said.

"Compared with traditional brick-and-mortar stores, these online platforms have gained an upper hand in obtaining massive user traffic and their requirements for commodities," said Zhang Shule, an independent commentator in the IT and video game industry.

"Cross-border e-commerce is set to greatly complement, if not replace, traditional trade to become an important driver in the next three to five years," said Zhu Qiucheng, CEO of Ningbo New Oriental Electric Industrial Development Co Ltd, an exporter of electronics.

"China will further reduce the negative list for foreign investment in its FTZs, and explore the establishment of a cross-border negative list management system for service trade in the FTZs this year," she said.