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"Competition is definitely fierce," said Zhao Huanyan, chief analyst at Shenzhen-based hospitality consultancy Huamei. "For platforms like Fliggy, scaling by gathering more hotel resources is a prerequisite before technology can make a difference and generate profits."

"China took the lead in calling for and supporting the extension of the Debt Service Suspension Initiative," said Liu.

"China's nuclear arsenal is extremely limited in scale, and poses no threat to international peace and security," he noted.

"Consumption via bank cards accounted for 48.7 percent in China's total retail sales of consumer goods, rising for a fourth year, giving a strong boost to consumption growth and upgrades," said Huang Runzhong, secretary general of the association.

"China's income growth remains at the same level of mid-income countries and it still has a lot of potential to develop," he told another forum held by the Institute of Economics of the CASS on Friday.