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China Energy signed a memorandum of understanding with the government of West Virginia to cooperate on shale gas exploration at the beginning of the month. The deal, with total investment to reach .7 billion in 20 years, will be the largest ever energy cooperation deal between China and the United States.

China and the United States are leading the fourth industrial revolution brought by artificial intelligence, which has shown huge growth potential and created value for traditional industries, said Kaifu-Lee, chairman and CEO of Sinovation Ventures, a leading venture capital firm at the China Development Forum Special Session in Beijing.

China and Pakistan will embrace industrial cooperation in the economic corridor and engage in overall collaboration to help improve people's lives in Pakistan, Kong said.

China Mobile, the nation's largest telecom carrier, said on Thursday that it will invest 100 billion yuan (.2 billion) into 5G network construction this year.

China also assembles and then exports a lot of phones, computers and other gadgets to the US. But, most of the profits and wages go to Japanese or South Korean component producers or US-based designers. For example, China makes less than from each iPhone. The total price of a phone is ridiculously counted as a Chinese export to the US.