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"Having a child has put a lot of strain on the family budget," said Ma Xin, who has a 4-year-old daughter and lives in Dongcheng district of Beijing. Expenditures on the daughter account for nearly half of the couple's monthly salary.

"Hainan will further expand its connections with countries and regions participating in the Belt and Road Initiative to open itself further," Shen Xiaoming, governor of Hainan, said on Monday during a panel discussion at the four-day Boao Forum for Asia Annual Conference 2018, which closed on Wednesday.

"First, their increasing manpower costs increase their cost of doing business in China. This may at first seem bad for China's competitiveness but, in the longer term, higher wages also mean that companies have a more productive, higher skilled labor pool to hire from," said Yu. "This would allow them to move up the value chain."

"Hainan is making full preparation for the establishment of a fairness review and anti-monopoly commission and a special advisory group to investigate and evaluate the overall market competition situation, issue assessment reports and coordinate important issues of anti-monopoly law enforcement and the implementation of competition policy in Hainan FTZ," said Yan Li, head of the antitrust bureau under the Hainan provincial administration for market regulation.

"For Italian wines, China is a country with great potential. After decades of effort, Italian wine exports to China have began to pick up momentum," said Amedeo Scarpa, manager and trade commissioner of the Italian Trade commission, part of the Italian Trade Agency.