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China, after France and Britain among others, is gearing up to ban manufacturing and sales of diesel and gas cars in the world's largest car market, by announcing that it had started research on a timetable to phase out manufacturing and sales of fossil-fuel powered cars.

Chinese Consul General in Auckland Xu Erwen noted that the initiative will benefit the world, saying "We believe that the Belt and Road Initiative will be a wonderful stage for international cooperation."

China's top foreign exchange regulator warned on Wednesday that systemic risk will possibly rise in the foreign exchange market due to unexpected fluctuations from irrational trading, as headwinds may get fiercer along with the deepened opening of the financial sector.

Chinese Premier Li Ke-qiang said in the Government Work Report in March last year that the development of emerging industries such as AI should be accelerated in China, marking the first time AI was ever mentioned in the report. According to a guideline released by China's State Council in July, the value of the Chinese AI industry would exceed 1 trillion yuan by 2030.

China's virtual reality industry will surpass 10 billion yuan (.51 billion) in output value in 2018, according to organizers of an industrial fair.