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Cheng said the group has benefited from the policy support offered by the local government. "Going forward, we expect to see a communication platform set up by the local government for companies to share experiences and learn from each other. We also look forward to a broader channel for companies to cooperate with universities and institutes for more tech support."

Cheng said Hong Kong's insurance companies will be allowed to sell some products with a simple structure and high guarantees under the pilot in the bay area.

Chen cites one of the functions — stock selection, which is part of robo-advisor’s job. If you ask: “Which stock performed well in the past three years with a low P/E ratio and robust earnings?,” the search engine will help you pick some eligible stocks in one second.

Chen Xi (right), an assistant professor at the China-UK Low Carbon College of Shanghai Jiao Tong University, works with Wu Jingwei, a postgraduate, on an experiment in a laboratory.[Photo provided to China Daily]

Chengdu's spot stayed unchanged from 2019, at the fifth, with total retail sales of consumer goods registering about 299 billion yuan in the first five months.