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Baidu Inc has also increased its AI spending and brought in former Microsoft executive Lu Qi as group president. He will play a key role in rolling out Baidu's Apollo Project to help drive the development of autonomous cars.

Bank of China Ltd's Chile branch, its fifth branch in Latin America, opened for business on June 6, further cementing its global position.

Backed by government policies, high-tech equipment and products are being rolled out to help people stay healthy. Custom-made fitness programs are also in vogue.

Based on the strength of Chinese economy and the international status of the renminbi, "Shanghai is uniquely positioned" to become a global financial center, which will further integrate itself with the global financial system, said Wang Jiang, a professor of the Mizuho Financial Group, which is part of the MIT Sloan School of Management. "A standardized and well-developed market can be a pathway to globalization," said Wang.

BUENOS AIRES - Argentine President Alberto Fernandez on Wednesday said his government is devising a mass vaccination scheme against the novel coronavirus (COVID-19) to be launched by the end of 2020 or first weeks of 2021.