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China aims to reduce taxes on businesses and individuals by more than 800 billion yuan this year.

China Mobile Communications Corp, the world's largest telecom carrier by subscribers, will start 5G scale tests next year and launch a pre-commercial service in 2019, with an aim to fully commercialize 5G services in 2020.

China Everbright Bank's Luxembourg expansion follows in the footsteps of six other Chinese banks- Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank, China Merchants Bank, and Industrial and Commercial Bank of China, all of which have made Luxembourg a key location of their European operations. Bank of China was the first Chinese bank to set up in Luxembourg, in 1979.

China also offers the opportunity to evolve his technology. 'We can add another unit to purify the air before pushing the air out,' he said. Cities like Beijing and Shanghai could definitely benefit from such technology.'

China and the US have common ground in fighting IPR infringement, and a consensus has been reached at high levels on both sides, he said.