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"Cross-border e-commerce has made rapid and notable achievements since the pilot zones were established and has become a new area of growth for imports and exports," Li said. "We should facilitate domestic consumption and at the same time improve export quality in the global market."

"Consumption is also one of the pillars to support economy."

"China will play a very important role in filling that shortage," he said, adding that connecting financial sectors and improving global commerce "will depend on China's participation in the global economy".

"Consumer behaviors are analyzed through e-commerce platforms as the tech giants are fully capable of launching big data analysis," said Wang.

"Clearly June 18 being a shopping period rather than a day aims to provide customers with ample time to make purchase decisions, which is also a way to set it apart from the Singles Day," said Neil Wang, president of consultancy Frost & Sullivan China.