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"By the end of this year, the number of BMW Group electrified vehicles on the roads around the world will total more than half a million," said Pieter Nota, member of the board of management of BMW responsible for sales and brand BMW.

"China has witnessed magnificent changes since the government introduced the reform and opening-up policy 40 years ago. The internet, with its nature of openness and connection, has accompanied the development," Li said in an exclusive interview with China Daily website at the fifth World Internet Conference, which was held Nov 6-9.

"China has the global competitive edge in terms of labor-intensive products, while the US has the global advantage in terms of skill-intensive products and service industry," said Xu Hongcai, an economist with the China Center for International Economic Exchanges.

"China is a country with a high savings rate, which currently stands at 46 percent, and the large amount of savings is transformed through banks into corporate loans, which is likely to drive up the leverage ratio."

"China has strong internet presence with well-known players such as Baidu, Alibaba and Tencent. In comparison, Singaporean companies excel in business-to-business technologies, and have good solutions in finance, transportation and logistics," Tan said on the sidelines of the ongoing 2018 Smart China Expo, one of the largest information communication technology events the Chinese government has organized.