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Andresen said China's ambition to catch up with the world's best is encouraging but will require time and long-term commitment.

Analysts said the country can continue to keep reserves within a reasonable range, and fluctuations are to be expected in an increasingly open economy.

And the company?points out that its personal shoppers — the people who buy?and deliver groceries — bring a much higher level of service to the process. They’re trained by the company, for example, to hand-pick the best vegetables and fruits, serving as the customer’s?proxy in the store.

And so one of the things we’ve learned is that this resonates with the public. When they look at the tech sector and they see us creating machines that can make decisions, they come to it with a point-of-view, and it’s less than sheer enthusiasm.

Andrew Downe, Asia regional head of commodities and global markets at Macquarie Group, said, "Megvii is a global AI technology leader and innovator with cutting-edge technologies, a scalable business model and a proven track record of monetization. We believe the commercialization of artificial intelligence is a long-term focus and is of great importance."