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Cargo and mail throughput increased 2.1 percent to 17.1 million tons last year, with those via domestic and international services rising 3.3 percent and 0.4 percent, respectively, the CAAC data showed.

Changan Automobile, for example, saw net profits plummet nearly 240 percent year-on-year, while its mid-year sales of NEVs hit only 38 percent of its annual target.

Carrier is 'fundamentally' sound but needs 'hard-nosed business approach'

Chairing the opening plenary of the forum, James Kynge, emerging markets editor of London-based Financial Times, said that West countries have to note the progress and changes in China's economic development, or they will lose their direction and even make wrong decisions in economic cooperation.

Chang also held that China's transition to faster wireless should "bring a wave of opportunities" for relevant tech companies and their stocks, driven by increased semiconductor demand and a surge in consumer device upgrades.