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"Essentially, they need to differentiate and think of new things to bring customers in. Working with third parties is one of the solutions, but department stores need to do most innovation on their own so they can reap full rewards," he said.

"Farmers are price takers not price makers. We get paid the price that people are willing to pay for our products," he said.

"Every day, every week, every month, we are adding more and more products based on consumer trends, consumer demands and consumer search terms," he said, adding females aged between 18 to 27 are the main group of people that are used to buying Chinese-made dresses via Taobao Collection.

"Fee collection must be governed by law and further regulated," said Liu Shangxi, head of the Chinese Academy of Fiscal Sciences.

"Experts in big data analytics and life sciences from Intel and Lenovo will integrate resources and expertise, to help address the critical challenges and drive the development of health and life sciences," Tong said.