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Angelica Anton, founding partner of Silk Ventures, said her team's China connections is one of the main attractions for member companies. Anton worked with the foreign direct investment team at the Hangzhou local government before relocating to the UK.

An online conference about how to preserve intangible cultural heritage in the Yellow River Basin will also be held.

Anderson also said there remained some unanswered questions about the deal, such as whether customers would face data transfer fees for moving large amounts of information back and forth between services.

And, high-tech services grew at an astonishing rate of 21.2 percent. In preparing for consumer 5G telecoms next year, the output of mobile communications base stations grew 153.7 percent.

Analysts say that while there is little doubt that new energy vehicles (NEVs) will eventually prevail, how long the switch takes remains to be seen and depends a lot on infrastructure and technology improvements as well as how fast automakers can adapt.