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China, Japan and the ROK also face the challenges of economic and social transformation, Liu said. They should strengthen cooperation in artificial intelligence, data utilization and new energy development and overcome development bottlenecks in the current economic and social transformation period, he said.

China's per capita GDP will for the first time exceed ,000 in 2019, The Paper reported quoting an official from the country's top economic regulator.

China's service sector rebounding means a broadening recovery, the BBC said. Domestic tourists and travelers have probably helped the recovery continue by spending their money at home.

China's service sector has become a new engine for economic growth, accounting for 52 percent of the total GDP, Economic Daily reported Thursday quoting commerce officials.

China-derived innovation is generating positive spillover effects. For Mondelez, the lighter, crispier and easier-to-digest Oreos inspired by China's healthy-eating practices are also warmly received in markets outside of China. And for the Mars bar, green tea and strawberry flavored versions are gaining traction.