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In the short term, however, the A-share market may witness fluctuations and remain highly sensitive to news on the Sino-US trade talks, Gao Ting, head of China Strategy at UBS Securities, said in a note on Tuesday.

In the past 20 years, the unprecedented large scale of urbanization has led to a housing shortage and booming demand, but he said it has ended, citing the fact that the ratio between the number of families and housing units in China has just passed 1. Growth is expected to slow after each family owns more than 1.1 units of housing, which is the case in many developed countries.

In the past five years, the country launched two manned space missions, with the most recent lasting over a month. Astronauts conducted dozens of scientific experiments inside the space laboratories. Scientists sent an exploratory rover to the moon and are preparing for a mission that will bring lunar samples back to Earth. They are also planning robotic explorations of Mars and Jupiter.

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In the past five years, wine sales in China grew from 66.5 billion yuan to 90.22 billion yuan, at a compound annual growth rate of 7.9 percent, buoyed by the increasing recognition of wines by Chinese consumers. In the next five years, with the wine-drinking culture expected to become even more popular, sales will continue to grow steadily, said Frost& Sullivan.

In the report, Kunming in Yunnan province drew praise for its "Tour with just your mobile" initiative that integrates much of what the city has to offer on one app, while Beijing was noted for decreasing congestion at tourist attractions through its time-division appointment ticketing systems.

In the meantime, China should control credit growth, or the redundant capital will flow into the real estate sector or the financial system, said Sheng. "As a result, tight financial regulation and control of the real estate sector is necessary."

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In the next several years, the group is hoping to take on a pace 5 percent faster on average than the global automotive market, according to the plan. Otto noted: "As a technological leader in mechatronics, we have set high standards with our customers worldwide, always thinking one step ahead and outside the box. Innovation, quality and efficiency are the main drivers for our success."

In the long run, China will transform from a "manufacturing power" to an "innovation powerhouse". Next generation networking, artificial intelligence, internet of things, big data and smart devices will be the driving forces behind this change.

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In the past two decades, NetEase has shaped up to be a premium content provider in China, not only in games, but also in education, music and e-commerce.

In the outlook, Moody's said financial measures in the second quarter from the Chinese government fueled robust growth in industrial production and fixed-asset investment. In addition, expenditures in infrastructure construction and realty in public sectors raised total investment. What's more, increased demand for medical supplies and related electronic products due to the COVID-19 pandemic drove exports.