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As China has tightened regulations on the asset management sector to rein in risk lending, commercial banks are striving to make a transition in this business area, which is considered as an industry with high growth potential.

As China has hastened the development of an innovation-driven economy, it has been keen to enhance the legal regime for IP protection, and new protection mechanisms have already taken shape across the country, said Sang Bai-chuan, a professor of economics at the University of International Business and Economics in Beijing.

Around 10 cities have adopted policies on real estate regulation to maintain market stability in terms of both supply and demand, thus protecting demand for self-residence while curbing speculation, said Xu Xiaole, a senior analyst with China's real estate brokerage platform Beike.

Arreaza said that at the meetings "there have been moments of tension, there are profound differences, but at the same time there are shared concerns and hopefully we can build on this dialogue proposed by the State Department."

Apple is expected to ship between 160 million to 180 million units of iPhones that use organic light-emitting diode panels in 2021, the website quoted sources with Samsung Display as saying. The figure combines the expected shipments for iPhones 12 and 13.