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And the country also contributes to world economic growth with its leading edges in high-speed rail, e-commerce, mobile payment, artificial intelligence (AI) and the sharing economy.

Analyzing the market's dynamics and consumer behavior both in China and in the West, the authors of the report concluded that in the future all online retailers will have to tackle almost the same set of issues, in order to keep profitable growth.

Andres Pedrejon Lopez, a tourist from Spain now working in Shanghai as a football teacher, said he likes the feelings that beach screenings can give to viewers during the third Hainan Island International Film Festival.

An old US car passes in front of a cruise ship docked at Havana's Harbor, on June 5. ADALBERTO ROQUE/AFP

Analysts said the decline could be even deeper in the whole year, considering a high comparative base last December due to the rush to take advantage of a purchase tax discount.