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"China ranks as Houston's second-largest trading partner with an estimated value of over billion in 2018. Chinese investment in Texas, and in Houston in particular, has grown significantly over the last several years as evidenced through major Chinese investments from Sinochem, COSCO, CNPC, ICBC, Memstar, America Modern Green, Tianqing Real Estate Group, Satellite Petrochemical, and more," Shen said.

"Chinese consumers are shopping across seven different store types and we believe there are still opportunities for brick and mortar retailers," said Jason Yu, general manager of Kantar Worldpanel China. The key is how the retailers adjust to the changes in China and revise their store formats and accelerate digitalization.

"Chinese customers are much more demanding of quality, of making sure the product lives up to expectations," he said. "That's why we look for good partnerships in China like Alibaba to make our products available and relevant to them."

"Cooperation between the two partners started in 2016, and since then iFlytek's speech recognition technology has been adopted on Venucia's models D60 and T70," said Wu Xiaoru, executive president of iFlytek.

"China will continue to export consumer goods and import France's high-tech products such as electronics, passenger aircraft, vehicles and parts and medical equipment," said Xue Rongjiu, deputy director of the Beijing-based China Society for WTO Studies.