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Another financial giant, Bridgewater Associates, has announced that it has been granted a Private Securities Investment Fund Manager license from AMAC. The license will allow the firm to develop and market investment products to investors in China.

Another strategic cooperative agreement signed between Wingtech Technology Co Ltd and Shanghai Baosight Software Co Ltd, a China Baowu-owned high-tech enterprise, will work on technology, talent and marketing for the realization of the 5G-based project.

Any new measures as part of China's reform and opening-up policy would help strengthen the financial sector as well, said Duo Yuan, founder and chairman of Blue Stone Asset Management, one of the country's largest private funds by assets under management, or AUM.

Another traditional first-tier city, Shenzhen, however, only ranked sixth in social consumption of around 289 billion yuan.

Another cutting-edge product on display was the recombined human-originated collagen III protein developed by Jinbo Biomedicine based in Taiyuan.