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As Indonesia is an important fulcrum to promote BRI growth, CGGC said it will adhere to the principle of extensive consultation, joint contribution and shared benefits, build infrastructure projects related to the BRI with high quality and continuously participate in big-ticket projects and further investments in various fields such as water conservancy, hydropower, thermal power, highways, ports and industrial parks in Indonesia.

As Bezos’ Amazon fortune has grown, there have been growing questions about his approach to philanthropy. In 2017, he solicited suggestions for philanthropic strategies — and followed up in 2018 with the unveiling of a billion Day One Fund to promote innovations in preschool education and affordable housing.

As Leung explained, equipment manufacturing as well as research and development are included in the Made in China 2025 strategy. These companies usually invest heavily in their early days in machines, plants and all other related facilities. It will take a long time before they finally register sales and profits. With the new policy, the VAT can be retained, which means that companies can enjoy a tax rebate when they eventually report sales results. It can largely secure their cash flow and relieve this tax burden.

Artificial intelligence will bring about changes as fundamental as those enabled by electrification, argues Li Kaifu, Chinese artificial intelligence specialist and founder of the venture capital firm Sinovation Ventures. He says that China is leading in real-world applications of AI to businesses, factories and cities, and is catching up with the United States in basic research.

Apple wants users to upgrade to newer, more expensive devices as a way to boost revenue as global demand for smartphones levels off. The strategy has helped Apple become the first publicly-traded US company to hit a market value of more than trillion earlier this year.