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Chinese business leaders are also hoping for regulatory relaxation. More than 80 percent of the respondents agreed that the government should limit data collection regulations to facilitate AI development, the PwC report said.

Chinese companies that have business dealings with Facebook Inc saw their shares surge on Wednesday after the United States-based social networking heavyweight confirmed it has set up a local unit.

Chinese billionaire Wang Jianlin's real estate-to-media conglomerate Dalian Wanda Group is exploring a deal to cut its stake in AMC Entertainment Holdings Inc, the world's largest cinema operator, people familiar with the matter said.

Chinese consumers want greater online security and convenient digital experiences, and security methods enabled by new technologies and advanced authentication solutions generate greater trust online, according to a report released by the world's leading information services company Experian.

Chinese authorities have singled out 5G, artificial intelligence, industrial internet and the internet of things as investment priorities this year, as the country looks to "construct a new form of infrastructure" and "speed up the commercialization of 5G".