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"For example, if you look at the manufacturing sector today and compare it with the roles five years or a decade ago, they are fairly different. Chinese companies should continue to adapt this trend and embrace some new technologies to enrich their operations at both home and overseas," he said.

"Furthermore, as credit rating differences intensified among small-and medium-sized banks, financing costs became high for some of them, reducing their interest in issuing CDs," he said.

"For new product launches in China, we are moving from 'intuition-driven readiness' to the employment of data that depicts the clear preferences of customers," said Kao, under whose leadership the group has seen nearly 30 percent of revenue generated through online channels.

"Growing the same crop on the same land year after year is not good. That's why we follow a rigorous crop rotation system, which makes the land more productive and environmentally sustainable," she said. "This is the way successful farmers have worked for generations."

"First, many companies are not fully aware of the importance of developing the industrial internet. Second, there is still a lack of platforms, such as technology parks and innovation incubators, to boost industrial internet development," he said. "Third, there is still a lack of talent in the area of the industrial internet, and the country needs to enhance efforts in training such personnel."