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Damo Academy, Alibaba's in-house technology research arm, has developed a more efficient speech algorithm model so that it can not only "capture" live content in a rather noisy environment, but "understand" the anchor's accent and "decide" which words to pick amid confusing contexts.

Dame Barbara Woodward, British ambassador to China, meets with the press in Guangzhou on Monday, as she started a tour of Guangdong-Hong Kong-Macao Greater Bay Area. [Photo provided to chinadaily.com.cn]

DNB Markets, however, states that the downturn in the global economy will be "moderate" because the economic imbalances in the US and Europe are now considerably smaller than before the financial crisis in 2008, particularly when it comes to the household and the housing market.

Data from the People's Bank of China showed a total of 157 trillion yuan of payments were made on mobile devices in China last year, more than 200 times that in the United States in the same period. The figure is expected to continue expanding by 50 percent each year, it said.

Data centers, or supporting data nodes, are essential to enabling Chinese companies' global expansion, which has already become a major driving force in the global economy, Dai said.