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China Telecom said it will work along with key smartphone vendors to unveil 5G handsets priced under 2,000 yuan in the first half of next year.

China Post and Huawei will jointly establish a laboratory for new technology application, while the Postal Savings Bank of China, affiliated to China Post, will collaborate with Huawei to build an innovation center.

China also has many successful AI startups. For example, Malong Technologies' product recognition AI uses deep learning, which among other uses, that it applies to analyze worldwide fashion color trends to help thousands of textile makers predict global fabric demand.

China International Capital Corporation echoed the forecast in a report, noting that the CPI might stay muted in the near term, as agricultural supply side reform might continue to depress food prices and the headline CPI until the fourth quarter, which lowered the probability of aggressive monetary tightening.

China Merchants Port Holdings, the group's ports and logistics arm, began constructing a new port in Djibouti in 2012.