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"China's decision to put products like wine in the first group of commodities subject to tariffs, leaving other commodities like pork in a second group, is an interesting strategy," said Larry Karp, professor of agricultural and resource economics at the University of California, Berkeley.

"China's e-commerce sector has posted remarkable achievements as it drives global development," said Jennifer Ye, PwC China consumer markets leader. "Chinese internet giants are leveraging their own capital and technological advantages to create retail ecosystems, while consolidating offline spaces and upstream and downstream industries to maximize their competitive edges."

"Combining Sephora's global brand resources with our technologies in 'New Retail' (that is, the merger of online and offline commerce), the tie-up is bound to bring customers a synchronized, rich variety of cosmetic products and experiences," said Liu Peng, president of Tmall's import and export business unit.

"China's automobile service sector is at an important turning point, and new consumer market opportunities and new consumer powers are taking shape. In the past three years, we have been striving to build the infrastructure to suit the new market, formulate new product and service standards, and realize industrial restructuring and upgrades in the form of New Retail."

"China's strategic assessment is that COVID-19 will not change the theme of the times, which remains peace and development; it will not cut short the historical trend toward multipolarity and globalization," Wang said.