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"China is resorting to SOE mergers and acquisitions to create more global powerhouses with competitive edge and to further the supply-side structural reform," said Yu Xubo, president of COFCO Corp, the country's biggest agricultural products supplier by revenue.

"By next year, China's online spending will be greater than the rest of the world combined. At Alibaba, we want to help you take advantage of this appetite for consumption through our e-commerce marketplaces," he said, referring to the slew of online shopping portals under its brand.

"Buyers will see a higher price, but it will not have a big impact because most of them live in large cities where gasoline car license plates are hard to obtain."

"China is now becoming a country that's more of an innovator rather a country that relies on the technology of other nations, so that is a very good sign," said Edwin Maher, a visiting professor of journalism studies at the Communication University of China.

"China has been a very active player throughout," he noted.