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"But most producers don't have enough money for their R&D work. With the support of the fund, domestic suppliers can bring in more advanced technology from abroad through investments, and mergers and acquisitions," Lin added. "This will in effect help domestic companies to grow faster and produce more competitive products."

"But today the tables are turned. The best domestic banks in China actually have better capabilities and more skills than the international banks in their consumer banking units here in China. So we are going back and learning from the domestic banks about how they evolve their business models here, how they partner with some of the most advanced fintech companies in China, and how they are redesigning customer experiences and customer journeys through their mobile and online platforms," he said.

"China is taking the lead in the autonomous driving sector around the world," said Li Zhenyu, corporate vice-president of Baidu and general manager of the company's intelligent driving group. He said that Baidu Apollo will continue to push forward the commercial application of autonomous driving.

"But what's happening in New York, a place I love — I love New York. Look at what's going on over there. The woman who was shot because she said, 'Could you please not light off firecrackers?' And they turned around and shot her eight times and she died. That's not our civilization, that's not about us," he told reporters.

"China continues to be a growth market with attractive prospects for Clariant. This investment will be of great benefit to our company's positioning and customer proximity in the entire region," said Hans Bohnen, COO of Clariant.