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Companies have increasingly been encouraged by the Belt and Road Initiative for going global, said a senior executive of a leading information processing and service provider in China.

Companies such as Zhishi Chaoren said they have already received expressions of interest from several companies wanting to place advertisements. It said it has already received 100 million yuan as advertising fees from Qudian, a Chinese fintech company.

Compared to developed countries, relatively low industrial concentration forced Chinese companies to enhance technological innovation speed, Zhang said. Statistics of production capacity in steel industry indicate that the industrial concentration of top 4 large enterprises in the United States and Japan is above 70 percent; while the industrial concentration of top 10 Chinese enterprises is less than 40 percent.

Combined profits of Chinese smartphone brands crossed .5 billion for the first time in a single quarter as they ratcheted up resources to make inroads into the premium segments, a new report said.

Co-hosted by the China Intercontinental Communication Center and Shaanxi Satellite TV, the 2019 Silk Road Journey will take Chinese media and companies to ASEAN countries about 50 days. The date of departure is to be determined.