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China is pinning more hopes on domestic consumption to revive its economy as the ongoing coronavirus pandemic worldwide depressed external demand.

China is the largest market for Audi. Its sales in the country accounted for 43.6 percent of global deliveries in the first three quarters this year.

China has set 2020 as the deadline to complete its building of a moderately prosperous society, which means the nationwide eradication of poverty. Governments at all levels around the country are working hard to meet the poverty alleviation targets set by the central government.

China has set 2020 as the target year to reach that goal, with a key goal of eradicating poverty. As Xi has said, "No one should be left behind on the road to a moderately prosperous society."

China is currently testing 5G across all major cities and provinces ahead of commercial launches next year and it is forecast that 28 percent of the country's mobile connections will be running on 5G networks by 2025, accounting for about a third of all 5G connections globally by this point, the report said.