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"Consumers these days are fastidious and want better quality and stylish products," said Xu Hui, a former clothing merchant from Yantai in eastern China's Shandong province, noting that the tendency appears in other sectors such as food, furniture and electronics.

"Commercial banks have a major responsibility to develop green finance to support the transformation and upgrading of China's economic structure," said Zeng Gang, director of banking research at the Chinese Academy of Social Sciences' Institute of Finance and Banking.

"China today is roughly where South Korea, Japan were when they began the period of rapid economic growth," he said. "There should be a substantial potential for further convergence."

"China's stance on trade war has been consistent and clear. We do not want, but is not afraid of a trade war.

"Chinese companies like China Gezhouba Group and China Petroleum and Chemical Corp, the country's biggest geothermal developer, have accumulated investment knowledge from their projects overseas during the past few years, and they have the strength to help Latin American countries to improve local construction," he said.