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"Competition is one of the best mechanisms to promote innovation, and help maintain the vitality of every company." he said.

"Customers want smart cars for a smart world, and Chinese customers are quick to embrace new technologies and electric cars are going to be a preferred choice," the executive chairman said.

"Coupled with ongoing urbanization and rising domestic demand powered by the Chinese government's measures to shift the economy to an internal consumption-driven model, the market potential in the Chinese mainland, particularly in lower-tier cities, continues to be attractive to jewelry retailers of all sizes," said Yang Lixin, director of the gemological training center for China's National Gem and Jewelry Technology Administrative Center.

"China's trade surplus with the United States is not as big as it looks if we take into account factors such as statistical approaches, entrepot trade and service trade," he said.

"China will carry out more efforts to accelerate the construction of an international science and technology center in the Guangdong-Hong Kong-Macao Greater Bay Area," said He Lifeng, head of the National Development and Reform Commission. He made the remark at a news conference during the recently concluded two sessions, the annual plenary meetings of China's top legislative and political advisory bodies.