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"Digital transformation has become a trend in the financial industry, financial players are supposed to continuously deepen their digital strategies and transformation initiatives to achieve platform-based strategic transformation," Ma said at Huawei Global FSI Summit 2018 in Beijing on Wednesday.

"Even though the demand for the consumption of goods from the US is increasing, the spending power is still limited due to the average income of the Chinese consumers, which is about one-tenth in the US," he said.

"Even if young parents prepare to spend money to find good day care facilities, there is a shortage of such facilities, even in big cities," said Huang, who is head of Peking Union Medical College Hospital's anesthesia department.

"E-commerce livestreaming has redefined the relationship between people and products and consumption," economist Wu Xiaobo wrote in his blog. "It puts people first, promoting the circulation efficiency of products and creating a consumption occasion. Consumers' trust in products is subtly replaced by their trust in people."

"Even though it is difficult to supervise overseas cryptocurrency trading, measures can still be taken including restriction of online trading by blocking internet accounts, shutting down web servers, forbidding illegal traders from leaving the country and enhancing coordination with overseas regulators," said Yang.