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Based on this standard, Ge predicted the 5G commercialization could be achieved in the world next year. However, it just marked the beginning of 5G services. Large-scale 5G commercialization will require two or three more years, Ge said.

Based on the strength of Chinese economy and the international status of the renminbi, "Shanghai is uniquely positioned" to become a global financial center, which will further integrate itself with the global financial system, said Wang Jiang, a professor of the Mizuho Financial Group, which is part of the MIT Sloan School of Management. "A standardized and well-developed market can be a pathway to globalization," said Wang.

BUDAPEST - Hungary must strengthen its relations with China in the area of health, Hungarian Minister for National Economy Mihaly Varga said Tuesday, noting that Hungary considers China as a strategic partner in that particular domain.

Bao Yue, president of Beijing-headquartered Heaven-Sent Capital Management Group, said that the merger and restructuring activity in the A-share market has been slumping since the end of 2015.

Battles against epidemics and poverty were not successful in the feudal era because the leaders then were not always determined to put people's interests first, while the CPC, with its more than 90 million members, has always been people-oriented, she said.