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As early as 1991, Huawei, back then just a four-year-old company, set up its own application-specific integrated circuit design center, marking the start of its long journey into the semiconductor industry, which is dubbed as the crown jewel of the electronics business.

As air passenger traffic volume in China has continued to expand and grow, China is expected to become the world's largest aviation market around 2022, industry experts said.

As a larger and older retailer, Walmart has constantly worked with startups, said McMillon, citing the new Omega 8 platform that enables retail innovation startups to collaborate with Walmart China to create better services for customers.

As crumbling houses stood firm again under the principle of "repairing the old as old," the deserted village began to revive.

As for the piling up debt level in China that "worries the world the most", Jing Urich, vice-chairman of Asia Pacific at JPMorgan Chase, said the overall risks remain controllable, because the government has recognized the risky points and has taken steps to rein in risks embedded in corporate debts, which might be the most worrisome part.