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"Declining sales growth does not mean we are experiencing consumption downgrading," an industry expert said. "In fact, sales growth of luxury cars and joint venture-branded cars are still much higher than that of Chinese-branded cars with lower price tags."

"Establishing an asset management subsidiary will prevent risks arising from the asset management business from spreading to the parent bank," said Zeng Gang, director of banking research at the Chinese Academy of Social Sciences' Institute of Finance and Banking. He said investors will now only be able to hold the parent bank financially responsible for losses equal to the extent of its investment in the subsidiary, rather than the full extent of any losses, as had been expected previously.

"Due to the internet, they have huge access to information. They are no longer talking in terms of bringing in expertise, because now they're using expertise."

"Digital integration is an inevitable trend, and it could make the ancient city more attractive and contribute to the sustainable development of its tourism industry," He said.

"Female grassroots officials are also younger and more adept at using computers and the internet to facilitate their job," she said, adding the federation has worked to promote women's involvement in politics in the past few years.