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Currently, railway passengers en route from Kunming to Lijiang have to detour through Dali. The limited railway capacity cannot meet the rising passenger and freight transport demands.

Customers purchase goods at a duty-free store of a shopping mall in Haikou, South China's Hainan province, on July 12, 2020. [Photo/Xinhua]

DAVOS, Switzerland - With globalization 4.0, namely, a new wave of globalization in a digital world, more focus will be shifted from business benefits to social value, a senior executive from China's Huawei Technologies said Tuesday.

Cui Yuying, vice-minister of the State Council Information Office and deputy head of the Publicity Department of the Communist Party of China Central Committee, said at the seminar that China adheres to peaceful development as it tries to promote common development globally.

Currently, the country accounts for nearly 50 percent of the global market share, Yang noted, adding that foreign-invested enterprises contribute more than 30 percent of IC sales revenue on the Chinese mainland.