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Another Chinese smartphone vendor, Vivo, announced on Tuesday that it has decided to withdraw from MWC 2020, given the novel coronavirus pneumonia outbreak.
Another area that stands out for me is technology and innovation. It is incredible to see the rate of adoption and development when it comes to technology in China today. It has transformed the landscape and forced companies to adopt quickly to engage with customers. But you must be able to understand how best to use all this technology. Yum China has been quick to adopt and, as always, listen to customers. One example is how we led the way in food delivery in China with the introduction of Pizza Hut Home Delivery in 2001. Delivery now accounts for over 14 percent of our business. There is the power of our membership platform and the fact that almost 60 percent of sales were cashless by the end of 2017 from 100 percent cash in mid-2015. That just shows how quickly things can and do change in China and I believe this momentum will continue.
Another report released by the SIC earlier this year showed China's sharing economy saw transactions worth 2.94 trillion yuan last year, up nearly 42 percent year-on-year.
Apart from high-tech companies, traditional businesses that have developed years before Xiongan was established in 2017 will also have opportunities.
Another 2,000 such centers are under construction or will be built, he said, extending their availability to all major grain production counties in China.