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"China is becoming one of the largest consumer markets in the world, and this huge consumer market is still opening up. On the one hand, China's tax cuts on imported consumer goods are increasing, on the other hand, China's policy continues to encourage cross-border import e-commerce and other new forms of business," Gao Hongbing, president of AliResearch, said.

"By combining Ant Financial' s AI technologies with the capabilities of asset management companies in investor education and fund management, together we are making customized wealth management services more accessible for ordinary users," said Eric Jing, CEO of Ant Financial.

"China is the first country to control the pandemic. It suffered economic losses in Q1 because it preferred the lives of its people over the economy by imposing strict lockdowns. The lockdowns paid off and China not only succeeded to control the disease but also managed to stop the second wave even after restoration of normal life and business activities in the country."

"China is ready to unswervingly expand the scope of market openness, and push ahead the opening of its modern service sector, manufacturing and agriculture," Hu Chunhua, vice-premier of the State Council, said at the China-CEEC Cooperation Forum in Ningbo on Sunday.

"But now I have to buy vegetables that are very expensive. Also, I had absolutely no idea what a QR code is and was completely at a loss when a shopkeeper asked me to scan one," the grandmother recalled.