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Beijing-based Springs Capital, one of China's leading private fund managers, saw 27 of its 30 products make a loss of more than 12 percent each by June 29, compared with the beginning of this year. Only two products earned profits but their yields were low at only 0.36 percent and 0.53 percent respectively.

Before he enrolled at the center, he was selling pesticides and agricultural machinery.

Before heading to Sochi, Li met with Russian President Vladimir Putin at the Kremlin on Wednesday night. The two sides agreed to maintain the high-level development of bilateral ties and further strengthen all-round cooperation in the future.

Beijing's economy continued to recover from the coronavirus pandemic, as the city's automobile grew for the first time this year, according to the municipal statistics authority.

Beijing hosts rare concentrations of wealth and top Chinese institutions of higher learning, including China's best computer science departments. According to the Beijing Academy of Artificial Intelligence (BAAI), there are about 67,000 AI professionals in China, nearly 40,000 of whom are in Beijing.