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Chinese industry has been following the path of technological innovation and opening-up for decades and will undergo even deeper and wider upgrades in the years to come, experts said.

Chinese investors have injected funds into a United Kingdom-based startup that develops smartphone screens that allow users to text underwater.

Chinese investors are scrambling to pour their money into artificial intelligence. But they also need to be careful and distinguish in the flood of business plans between the doubtful AI-enabled startups and those with real potential, experts in the field cautioned.

Chinese authorities also tightened their grip on the internet financing market to rein in financial risks. Regulators ordered a ban on Initial Coin Offerings and they shut down all virtual currency exchanges in the country. Unlicensed firms or individuals were banned from carrying out cash loan or micro lending business.

Chinese entrepreneurs share his ambitions. Liu Qiangdong, founder of e-commerce giant JD, announced at the congress that the company would renovate 800 logistics centers in China with AI technologies in the next five years.