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China has upheld AI as a key cornerstone to drive the next phase of growth, unleashing a series of policies in the past two years to bolster the sector's development. The guiding "New Generation AI Development Plan" has set 2030 as the year for accomplishing the global AI lead, with a bevy of milestones to be reached by the end of 2020.

China has witnessed a maturing and expanding VR industry as the country pushes for high-quality development and extensive application of new technologies. According to the MIIT, China's VR market will amount to 54.45 billion yuan (about .7 billion) by 2021.

China is a strategic partner for Saudi Aramco and one of the most important customers globally, and the company is looking at both the export of oil and integration down the value chain in the Chinese market, he said.

China is one of the world's largest games market and had 530 million gamers during the period, an increase of 4 percent year-on-year.

China is pursuing higher-level opening-up as an essential step in its future growth as it strives to shape its new development paradigm of "dual circulation" and offer more opportunities to the rest of the world for shared growth, experts and scholars said.