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China's ride-sharing sector is entering a new stage, with major players stepping up measures to strengthen safety mechanisms and shifting their focus from the sole pursuit of fast expansion to quality growth, experts said.

China's top officials highlighted the importance of the financial sector to the real economy at the National Financial Work Conference in July, reiterating that prevention and control of financial risks is essential for systemic health.

China's top political advisory body holds its second plenary meeting of the annual session, May 24, 2020. [Photo/Xinhua]

Chinese AI startup Megvii Technology, which reportedly had a unicorn valuation of more than billion last year, has obtained access to 1.3 billion facial data records of Chinese citizens, according to the report. AI chip maker Cambricon Technologies, which raised 0 million from investors last year, is planning to have one billion devices using its AI intellectual properties in three years.

China, Wang added, has always carried out international cooperation in an open and transparent manner, actively shared epidemic information with the World Health Organization (WHO) and the international community in a timely fashion, and extended a helping hand to countries in need.