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As China's leading online travel agency, Ctrip has been actively increasing its presence abroad. Ctrip's gross merchandise volume reached 725 billion yuan (5 billion) in 2018.

Artificial intelligence adoption by Chinese businesses has outpaced the global average thanks to increased spending on research and development and industry growth, said a PwC report.

As China's expanding economy shifts from an export and investment-led model to be consumption and services driven, the country's tourism sector continues to experience a major boom. The number of domestic tourists reached 2.83 billion in the first half of 2018, up 11.4 percent year-over-year, while outbound travelers surged 15 percent over the previous year to hit 71.3 million, according to the China Tourism Academy.

Applications from Chinese mainland visitors can be rejected if their hosts or tourism agencies have ever provided inaccurate data in applications, and their permits to visit Taiwan can be revoked even after they are granted.

As China's Renminbi internationalizes and its own capital markets deepen, the country will "become a provider of safe global financial assets," he said. "And as one of the world's largest importers, it will become one of the go-to global consumption markets that underpin global economic balance and stability."