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But C.K. Lu, principal analyst at consulting firm Gartner Inc, said: "It will be difficult for firms such as Xiaomi to establish a successful offline retail network in the short term, as they lack both experience and talent."

Both sides conducted negotiations on issues such as trade in goods, trade in services, investment, rules of origin, customs procedures and trade facilitation, intellectual property rights (IPR), competition policies and government procurement.

Bounnhang said he fully agreed with Xi's guiding thought on building a community of a shared future for China and Laos.

Bridgewater (China) Investment Management Co Ltd, a Shanghai-based subsidiary of the world's largest hedge-fund firm Bridgewater Associates, received a Private Securities Investment Fund Manager (PFM) license from the Asset Management Association of China on June 29, according to a report by 21st Century Business Herald.

Business guru Dipak Jain tells China Daily in an exclusive interview that the world's second-largest economy is now a key destination if you want to learn about business. [Photo by Chen Zebing/China Daily]