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"Consumers already know that they are participating by Nov 1 and often even know what they want to buy as they would have to pay a deposit for popular items. Hence, this additional window serves to bring the transactions forward," Ong said.

"Chinese travelers continue to shift their spending toward more meaningful experiences, such as exquisite dining, extraordinary cultural journeys and even adventurous sports," said Hunter Williams, a partner at Oliver Wyman.

"China still has some room to maneuver its policy and foster next year's economic development," Ying added. "We will suggest the government continue to remain prudent and maintain a neutral fiscal and monetary policy for next year's situation."

"China will also expand domestic demand to improve the quality of supply side and stimulate consumption potential, and at the same time, accelerate the development of new consumption formats and actively expand effective investment," Xin added.

"Compared to the demands of application scenarios for AI algorithms, the supply is less than 1 percent," Yin said. That is especially the case when it comes to facial recognition technology's application industries such as transportation and finance, which have stringent demands for precision, security and safety.