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China's preschool education market reached 214.3 billion yuan in 2017, growing 9.11 percent year-on-year, said a report from qianzhan.com, an industry information provider. The market is expected to surpass 540 billion yuan by 2020, boosted by the second-child policy and the new-generation parents' emphasis on education. At the same time, the K12 (kindergarten through 12th grade) education market has also been flourishing in the nation. During the first six months of 2018, investments in China's K12 education market totaled 3.2 billion yuan. It is estimated that the online K12 education market will reach 88.4 billion yuan by 2020.

China's role in the AI sphere is also comforting to Walsh, who said that he feels worried that the benefits of the rapid advancements in technology that will be made will potentially be too isolated as they are often "winner take all markets" driven by the network effects of the technology.

Chinese Premier Li Keqiang has a discussion with some foreign experts working in China prior to the Chinese Lunar New Year, which falls on Feb 5 this year, at the Great Hall of the People in Beijing, capital of China, Jan 25, 2019. [Photo/Xinhua]

China's tourism industry saw steady growth in 2019, according to a new report by the China Tourism Academy on Tuesday.

Chinese Foreign Minister Wang Yi (6th L) attends the signing ceremony of the amended version of the Memorandum of Understanding on Establishing China-ASEAN Center in Manila, the Philippines, Aug 6, 2017. [Photo/Xinhua]