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China will build an all-directional and multi-tiered ecological environment in innovation by promoting institutional innovation, technological innovation, management innovation and mode innovation, as well as strengthening protection of intellectual property rights and stimulating entrepreneurship, which places innovation in a key role for high-quality development, said Zhao Zeliang, vice-minister of the Cyberspace Administration of China.

China saw over 598 million exits and entries across the border in 2017, a more than 140-fold increase from 1977, according to the the Ministry of Public Security.

China is working on new ways to improve chip performance, power and costs for AI applications, which will present huge opportunities for companies laying the foundations for such technological breakthroughs, said Gary Dickerson, president and chief executive officer of Applied Materials Inc, a leading semiconductor and display equipment company.

China may see a mild inflation increase, as CASS expects China's consumer price index, a main gauge of consumer inflation, to rise by 1.7 percent and 1.5 percent in the fourth quarter and for the whole year, respectively.

China was one of the first countries to launch a contact tracing app installed on WeChat and Alipay. It uses software to monitor temperature and determines with a color code — green for well, yellow for a person who has come into contact with an infected person, red for sick — whether someone is safe to go outside. People in some provinces must scan a QR code before traveling.