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China and the West differ in terms of consumer mentality. China's service consumption enterprises have become more competitive－from beauty, fashion, and entertainment that are embedded with unique Chinese characteristics, to new online marketing; and from internet celebrities to social media. Through such innovation and creativity, the image and attractiveness of local companies have been enhanced.

China also has dived into the sharing economy, with ride-sharing company Didi Chuxing buying out Uber's business in China and fast-growing Ofo starting to offer bike rentals in major cities across the United States.

China Railway Corp, the world's biggest railway operator by rail length, said it hopes to deepen its existing business relationship with e-commerce giant Alibaba Group Holding Ltd in pushing forward its mixed ownership reform.

China and Europe were "decisive for the global breakthrough of electric mobility," said Ferdinant Dudenhoefer, director of the CAR in a statement, noting that the two regions were "significantly supporting emission-neutral mobility."

China Star Optoelectronics Technology Co Ltd, a leading TV panel supplier and a subsidiary of home appliances giant TCL, has a sixth-generation flexible display panel production line in Wuhan. The project produces high-resolution, flexible and foldable display panels for smartphones.