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As one of the most dynamic and influential industries in the 21st century, the biotech industry has become a major emerging sector of strategic importance in China, said the report.

As new technologies cascade through markets, less productive business models will cede ground to more innovative ones which are streamlining business processes and optimizing supply and demand, he told a packed audience at a digital economy conference on Thursday.

As one of the world's most established trade fairs for high-end luxury watches, the Salon International de la Haute Horlogerie, or SIHH, in Geneva, Switzerland, was considered an "exclusive" occasion, only accessible to top-tier retailers, professionals and celebrities.

As part of China's efforts to press ahead with "smart city" development and build itself into a technology-driven economy, the country will hold the fourth China Smart City International Expo in Shenzhen from Aug 21 to 23.

As pandemic slashes budgets, ax looms over thousands on Australian campuses