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As the AI era approaches, the Chinese government is encouraging private enterprises to enter sectors like smart manufacturing to improve the country's high-end manufacturing. New industry standards and specifications are to be established.

As the concept evolves from jargon to practice, China's tech giants are busy throwing their hats into the ring. First, it was Alibaba Group Holding Ltd that pitched its tent. It has clinched a flurry of stake-controlling deals, from InTime Retail to RT-Mart, or built its own retail prototypes like the Hema Fresh Market in order to take on existing physical stores.

As there is still work to be done to improve monetary policy transmission mechanisms－or to funnel additional liquidity into the real economy, particularly small businesses and infrastructure investment, interest rate cuts may translate into asset bubbles, instead of stronger economic expansion, Zhang Jun wrote in a note.

As the trends develop, luxury brands' quest to attract buyers will quickly move from offline to on. Within five years, the luxury industry will enter into a digital 2.0 era where the online and offline connect closely, said Wang Jiaqian, partner at Boston Consulting Group.

As rising protectionism challenges economic globalization, China is ready to work with other BRICS countries to showcase faith in greater collaboration, Qian said.