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But that changed gradually, especially in the past five years. Chinese tourists now outnumber their foreign counterparts there.

By adding more ammunition to its ecosystem, the Shenzhen-based company is leveraging more advanced technologies to offer customers a better user experience.

But, China, the world's largest semiconductor market, still spent more on importing chips than crude oil in recent years. In 2018, its chip imports exceeded 0 billion for the first time, up from 0 billion in 2017, according to data from the Ministry of Industry and Information Technology.

But while the?two companies compete on a number of levels — from phones to cloud services to drones to search engines — there is also some “co-opetition” between the two. For example, Amazon was the biggest spender on Google search ads in the U.S. last year, spending a whopping 7.7 million.

But that didn’t deter investors who sent the stock above per share, up more than 25 percent over its elevated offering price.