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"Compared with other brands, own-label products of supermarkets are usually cheaper, and they can help supermarkets to get higher gross profits. They can even set up specialized labs to research and develop more innovative products in their own brands, as this will help to lower the costs, raise customer loyalty and brand awareness," Wang said.

"Consumers in Shanghai are willing to try out new flavors, especially those from European countries," Nong said.

"Correcting one's mistakes is a fundamental basis for one to behave and do business," Chinese Foreign Ministry spokesperson Geng Shuang said Wednesday at a daily press briefing.

"Considering the high proportion of small businesses from the Chinese mainland that sell online and utilize other digital technologies, there are opportunities for reputable financial institutions to apply financial technologies and big data analysis to make it easier for small business to access finance," Chan added.

"China's economic recovery has become more broad-based" and domestic demand saw "a strong catch-up in October, reaching a level similar to industrial value added and exports," said the think tank in its monthly Recovery Tracker.