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"China is being pressured from both sides," an unidentified MIIT official told Xinhua. "Advanced economies such as the United States, Germany and Japan have all formulated policies supporting further development of their own manufacturing. At the same time, emerging economies such as India and Brazil are catching up with their own advantages."

"China and the Philippines must join hands to uphold the interests of the developing world, resist protectionism and unilateralism, and promote peace, stability and prosperity in our region and beyond," Xi said.

"China is way more advanced in mobile payments," said Virkkala. He told Xinhua that he believed "the approach is now coming to Europe."

"By listing in the NYSE, we are on a right path to become a global chain retailer, especially for the global young consumers," said Ye Guofu, founder and CEO of Miniso.

"By adopting big data technologies to analyze small businesses' operating conditions and manage any related risk, financial institutions and fintech firms will find a way to help small and microenterprises to solve their financing difficulties," he said.