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Chinese bike-sharing companies, for instance, are more competitive than corresponding foreign companies due to their heavy use of technology, she said. A Chinese shared bike is powered by about 300 patents.

Chinese e-commerce giant JD Inc reported its sales during the mid-year online shopping festival reached 119.9 billion yuan (.6 billion). Other e-commerce heavyweights also jumped on the bandwagon to offer special offers and attract more consumers.

Chinese companies are making strides in fintech innovation and are shaping up to be the emerging force empowering counterparts in less developed nations. For instance, Ant Financial is powering Pakistan's first cross-border remittance service using blockchain technologies, marking a major milestone in the country's journey to promote financial inclusion.

Chinese Vice-Premier Han Zheng attends the opening ceremony of the China Development Forum 2020 on Nov 11, 2020. [Photo/Xinhua]

Chinese and Russian online media should work together to tell more vivid stories about the battle against the pandemic, jointly fight against attacks and provocations from Western countries, establish a healthy international public opinion environment, and share experiences of prevention, control and treatment of the coronavirus, he noted.