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"For Huawei, Europe has become our second home," he said, adding that "our success is Europe's success. Our loss would be Europe's loss."

"Giants such as Google, Facebook and Microsoft not only have strong financial resources, but more importantly, they have a large number of users who generate a large amount of data," Zhang said. "As the data resources are monopolized by them, it is difficult for today's AI startups to grow into giants as those companies in the eras of personal computer and mobile internet did."

"Generation Z are becoming the new driving force for the industry," said Zhang.

"For staff who may lose a job because of the virus outbreak, the government should provide unemployment insurance and short-term relief," Zhu said.

"Future guidelines, with details of debt approval procedures and penalties for market participants violating rules, are expected to plug financing loopholes and ward off potential risks," said an official with the National Development and Reform Commission. He said that the current rules seek to just warn violators, rather than taking any action like blacklisting.