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"For example, the Forbidden City has a large amount of ivory antiques that need professional repairs," said Song, also former vice president of Beijing Arts and Crafts Association, adding that the government should connect the institutions with cultural heritage protection organizations.

"GEM stocks are quite divided. It is better to look at the valuation of companies and industries, and whether there is a good business model, instead of focusing on block size and style," said Wei Xinyuan, an investment manager of private equity fund Windsor Capital in Beijing.

"Financial market liberalization is a necessary step for China to lift its growth potential. It will help address problems such as market inefficiency and misallocation of resources that have impeded high-quality growth," said Xue Yi, a professor of finance at the University of International Business and Economics in Beijing.

"For luxury brands, the market of Gen Z(referring to those born after the mid-1990s) matters hugely," Mike Hu, the managing director of Tmall in charge of fashion and luxury products, said in a press release.

"Flexible working solutions become essential for business growth."