China will play a leading role in shaping a new framework for global cooperation to maintain open markets and facilitate globalization, Klaus Schwab, founder and executive chairman of the World Economic Forum (WEF), said in Tianjin on Tuesday.
Despite short-term fluctuations, China will stick to its pledges to continue to promote opening up in the financial sector as the nation has sound economic fundamentals, according to senior officials.
With the theme of "Shaping Innovative Societies in the Fourth Industrial Revolution", the World Economic Forum's "12th Annual Meeting of the New Champions" kicks of this week in Tianjin. The event, commonly known as "Summer Davos", will focus on new innovations - including AI, machine learning, the internet of things, and connected devices - as well as the challenge of centering these technologies on the current and impending needs of humanity. As the leader of a company that is at the forefront of this technological change, Rachel Duan, president and CEO of GE China, shares some of her thoughts on this new industrial revolution.
Leading Chinese think tank experts have asked Beijing and Brussels to forge an alliance to defend multilateralism and globalization as the United States escalates trade tensions with China.
China's central bank injected further liquidity into the financial sector on Monday, a measure to ease investors' concerns about economic downside risks in the fourth quarter due to uncertainties arising from escalating Sino-US trade tensions, and to boost investment.
Shanghai is looking to build itself into a national hub for artificial intelligence and will sharpen its focus on the sector's basic research, pilot zones, policies and talents to bolster that goal.
Only one of the 70 major cities in China saw a decline in its housing price month-on-month in August, according to the National Bureau of Statistics, with experts predicting that the authorities would introduce further curbs to rein in price rises.
Chinese companies and institutions are accelerating their application of internet of things technologies to improve their efficiency and provide added-value to their customers.
China has become the world's largest producer of electricity based on low-carbon coal. The country will continue to promote efficient and environmentally friendly use of coal, in line with the policy to develop clean energy, said a high-ranking Chinese government official.
ChinaCoal Pingshuo Group Co Ltd, one of China's top coal producers, is using new technologies to advance its coal-to-nitramine conversion procedures, in line with the rising trend of environmentally friendly industrial production.
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