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"For many Western brands, it will be critical to participate now in the rebound of the Chinese economy and the increasing appetite of Chinese consumers to restart spending, as their businesses in the rest of the world struggle or even come to a standstill," he said.

"Forty years after the beginning of China's reform and opening-up, China's supply chain, manufacturing chain, as well as its talent pool, have probably grown to the top position in the world," said Wu Peng, general manager of marketing and sales at Dreame Technology, a Tianjin-based company that specializes in smart household appliances."Along with the development of these basic infrastructures, Chinese brands have become very competitive in the world."

"Going ahead our association will actively work to facilitate global communications and cooperation," he said.

"Hainan will first attract domestic tourists with advantages of prices, convenience, language and culture over outbound medical tourism," said Chen Yangle, a professor at Hainan University's Tourism College.

"For decades, people have gotten used to their neighborhoods being exactly the way they are and that's the status quo. What we need to do is readjust our entire approach to housing, not working, so we have to get a different mindset about housing," said Wiener.