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As a next step, Weng stressed that SOEs will form more partnerships with private companies, in particular the small and medium-sized enterprises, as they will boost synergetic innovation among all small, medium-sized and large companies.

As escalating Sino-US trade tensions weigh on global equity markets, newly listed companies are in for a bumpy ride in Hong Kong, Chen said.

As early as in the late 1990s, the ruling Communist Party of China acknowledged the shortcomings of the Western financial system and sought to establish a strong internal financial system to promote the development of China.

As for transaction volume caps, the limit per transaction has been lifted from 2,000 yuan to 5,000 yuan, while the annual cap has been lifted from 20,000 yuan to 26,000 yuan per person. These caps will be further lifted as people's income increases in the future, officials said.

As connected devices, appliances, and security systems become increasingly mainstream, Google and Amazon have emerged as chief competitors for the voice operating system of the home. Mahaney asked whether Google’s slow start could be problematic down-the-line.