China's consumption upgrade to boost product, service quality

China's ongoing consumption upgrade has made it imperative for companies to improve the quality of their products and services, said participants at a recent global conference.

"Improved quality and services are key to consumption upgrading," said Li Baofang, chairman of Chinese liquor firm Kweichow Moutai Co, adding that his company has been at the forefront of providing better services to customers.

Li's comments came during a panel discussion on Consumption: Upgrading or Downgrading, during the Boao Forum for Asia Annual Conference 2019 in South China's Hainan province.