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As the top industry regulator, the ministry will oversee Chinese telecom carriers' bidding processes, and it encourages competition, Miao said, adding that delivering quality 5G products and services is the only way for companies to increase their market share in China.

As the love for a picnic surges, so are the businesses riding the boom to make it less of a thorny task.

As the Belt and Road Initiative is set to promote huge investment demand in the coming years, the fund will also boost its investment in the infrastructure construction, high-tech and healthcare sectors in economies along the routes, the senior executive added.

As the richest country in the Middle East, the UAE has vigorously promoted the development of AI in recent years. In 2017, the UAE appointed its first Minister of State for Artificial Intelligence. And this year, the UAE government officially launched its strategy for AI 2031, which has laid out a vision to become a world leader in AI by 2031, creating new economic and social opportunities for citizens, governments and businesses.

As stipulated in the draft, the credits should account for 8 percent of an automaker's total in 2018, 10 percent in 2019 and 12 percent in 2020.