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"China has huge potential in the area since the bioethanol consumption only takes up 2 percent of the total mix in the transportation sector while the figure in the US is 10 and in Brazil it's 30," said Nielsen.

"China has become one of our most important markets around the world, and we attach great importance to our development in China. Although the Chinese economy is relatively slowing down, it is still a fast-growing market worldwide," said Howard Ozawa, executive vice-president of Canon.

"China and the EU do not have fundamental conflicts of interests. China-EU interactions are a mutually beneficial positive cycle, not a competition where one side loses and the other side wins," the minister said.

"But there is still a structural gap between China's services trade and other economies'. The country's per-capita service trade is smaller than many countries," Li said.

"China is a promising market and it is set to be the world's largest retail market this year, and there is a clear need for a solution that enables brands to hone their in-store execution and increase their margins," said Dror Feldheim, Trax's co-founder.