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China-US trade friction is likely to escalate this year, said Wei Jianguo, vice-president of the China Center for International Economic Exchanges, a leading government think tank. "We are not afraid of such actions. China is fully prepared to cope with uncertainties created by the US," he said.

Chinese PC maker Lenovo will push ahead its new strategy in three areas of smart technology－smart IoT, smart infrastructure and smart verticals, the company's CEO announced at the company's annual kickoff meeting in Raleigh, North Carolina, on Tuesday.

China's reforms have completely overhauled its economy, urbanized society and improved living standards. The nation has entered a new era with a massive plan for turning into a modern socialist country.

China, on the other hand, is concentrating on improving the real economy and is following a much less risky monetary and fiscal policy course. At the same time, Chinese industry is being restructured toward higher value products with world-leading technology. And China is taking many steps to move toward more efficient market-based institutions.

China's resolve to create decent livelihoods for young people, particularly in smaller cities and towns, is receiving a fillip from the digitalization of private-sector local services.