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Digitalization is a key enabler, a unique driver of China's economic transformation, and is creating huge opportunities for companies from both China and abroad, according to a chief executive from Microsoft.

Domestically-made war epic The Eight Hundred continued to dominate the box office in China this weekend, even after the highly anticipated sci-fi action film Tenet by Christopher Nolan hit theaters Friday.

Ding Xiangqun, vice-president of China Development Bank (CDB), said at a press conference that the majority of projects supported by the CDB generated sufficient cash flow to pay back the principle and interest.

Digital privacy groups are up in arms about the pilot, claiming it creates a surveillance dragnet without the consent of residents who might be caught on film.

Dolby partnered with local cinema giants like Wanda Film. By July, ahead of the release of The Lion King, the number of Dolby-fitted cinemas expanded to 51 across the country.