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China will be one major market and beneficiary, thanks to partnership deals with local hospitals in AI-powered medical solutions, according to Andy Ho, CEO of Philips China.

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, at a press conference for the second session of the 13th National People's Congress on Wednesday.

China unveiled on Friday a guideline to help deepen integration of advanced manufacturing and the modern services sector, a key move to accelerate industrial upgrading and foster high-quality development, according to the country's top economic regulator.

China manufactured more than 10 billion lithium-ion batteries in 2017, which was a 28 percent increase year-on-year. The figure is expected to reach 12.1 billion in 2018, a ministry report showed.

China plans to reduce the tax burden and social insurance contributions of enterprises by nearly 2 trillion yuan this year, according to the report delivered on March 5. Meanwhile, the country has set this year's GDP growth target at 6 to 6.5 percent.