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Changan Automobile Co Ltd is to invest 21 billion yuan (.05 billion) in 10 years to expand its current 600-member smart car research team to 2,000 people. It now has research and development centers in China, the United States, the United Kingdom, Italy and Japan.

Challenges also abound. Xu cautioned against a lack of industry standards in China, while Li said Chinese laser companies still rely on imported chips, despite their ascendance in other technologies.

Cargo from an aircraft of SF Airlines is unloaded at Xi'an Xianyang International Airport. [Photo by Yuan Jingzhi/For China Daily]

Carney: When we sell to law enforcement agencies, our instruction to them is this technology should only be used in this use case at the 99 percent certainty level. There’ve been tests, I think somewhat disingenuous tests of the technology that have set the reliability level or the confidence level much lower, but that’s not how it’s supposed to be used, and that’s not how law enforcement customers are meant to use it.

Charles-Edouard Bouee, CEO of Roland Berger Strategy Consultants, a Germany-headquartered company, said many opportunities come from the country's ongoing policy reform, the fast-growing artificial intelligence or AI field and 5G technology.