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"Currently, we have worked with partners to launch multiple 5G smartphones and bring the 5G experience within reach. Moving forward, we will continue to join forces to bring diverse 5G-powered, innovative applications to more consumers and industries," Meng added.

"China will step up the in-depth crackdown of the banking sector, while improving its regulatory regime in 2018," said Zeng Gang with the Institute of Finance and Business under the Chinese Academy of Social Sciences.

"China wants to be the leader, not the follower in the generation of 5G," said Richard Yu, the CEO of Huawei's consumer products division, who made the speech. "We were late in the 3G development, but we caught up with others in 4G and will be the global leader of the ICT (information and communications technology) industry in the era of 5G."

"China will adhere to international, legal, and market-based principles to actively and steadily advance the testing of issuance and trading of CDRs," said Li Chao, deputy head of China Securities Regulatory Commission (CSRC), at a forum last Friday.

"China's wealth management industry will embrace a historical transition of business models and a comprehensive restructuring of its ecosystem. The establishment of ABC Wealth Management is an important measure taken by the Agricultural Bank of China to carry out supply-side structural reform in the financial sector, further implement new regulations for the asset management industry, push for high-quality development of the real economy, and actively tackle changes in the wealth management industry," said Zhou Mubing, chairman of the Agricultural Bank of China, the country's third-largest commercial lender by assets.