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China has upgraded its average broadband speed up to 49 Mbps and will eliminate charges for domestic roaming and long-distance calls this year.

China is likely to issue 5G licenses to telecom carriers in the second half of 2019 at the earliest, as the country scrambles to commercialize next-generation mobile communication technology, Wang Zhiqin, an expert with the Ministry of Industry and Information Technology, told China Daily on Wednesday.

China is poised to grow strongly in the next two to four decades due to the Belt and Road Initiative and this will provide significant business opportunities to other economies in the world which would benefit from the country's business wisdom, participants of a student-led business forum in London said.

China is ready to work with the EU to strengthen dialogue and coordination at bilateral, regional and global levels, promote and practise multilateralism, uphold the UN-centered international order and system, and tackle global challenges. China and the EU need to stand firmly against unilateralism and protectionism, push for a more open, inclusive and balanced economic globalization beneficial to all, and support the international community in formulating and improving fair, equitable and just international rules and standards to ensure that all parties engage in decision making as equals, enjoy their legitimate rights, and shoulder responsibilities and obligations commensurate with their levels of development.

China is the world's second-largest automotive market and is forecast to become the largest automotive market by 2023, according to iResearch. The used car transaction volume in China is expected to grow rapidly from 12.4 million in 2017 to 29.6 million by 2022.