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Chinese firms, along with peers from other manufacturing nations, have started to transfer at least part of their production bases to less-developed economies in search of lower labor costs. Domestically, the government is pushing industries to move up the value chain, shifting to a new growth pattern based on innovation rather than cheap labor.

Chinese private enterprises played a bigger role in trade in January, edging up 0.2 percentage points in its share of total trade compared with January 2016.

Chinese courts should take initiative to play a role in enforcement, providing justice for litigants in a timely manner, he added.

Chinese film industry insiders worry that bloated star salaries will gobble up so much of a project's budget that the production value and film quality will suffer.

Chinese entrepreneurs Jane Liu, vice-president of Shandong Ruyi Group, and Gilbert Lee, chief financial officer of Fuling Global Inc, spoke at last year's summit.