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"Entering the video conferencing sector, we will not offer any hardware products. Instead, we will focus on providing the platform and standard software as a services, dedicated to connecting people, devices, conference rooms and maintaining strong communications," Wu said during the launch event on Wednesday in Beijing.

"Entering the electrified vehicle segment is a challenge for traditional carmakers, especially in terms of marketing. It is something we are still learning. We have a lot to learn from new players, including Tesla and Nio," Lu said.

"Education firms' funding rounds have become fewer this year, but the average funds raised in a single funding round have risen," said Chai Mingyi, associate vice-president of New Oriental Education and Technology Group.

"Digital trade" refers to the production, distribution, marketing, sale or delivery of goods and services – domestically and abroad – supported by cross-border digital flows. This consists of trade in digitally enabled products and services and cross-border data flows that create economic value in the domestic economy, according to the report jointly released by the Center for China and Globalization as well as the Hinrich Foundation.

"Embracing the smart revolution, enterprises can effectively improve the production efficiency and offer better services," Liu added. "For instance, chatbots are helping combat some of today's biggest customer service challenges. Chatbots are able to learn knowledge up-to-date and offer services 24 hours a day, seven days a week, helping reduce the labor costs and better cater to the customers."