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That is key to ensuring competence when it is locked in fierce competition with players such as Huawei Technologies Co in China as well as outside, Xiang said.

Tencent Holdings Ltd, the developer of messaging app WeChat and mobile games, has been leveraging AI to create more personalized shopping experiences by allowing their partner merchants to customize their virtual storefronts for individual visitors. According to Tencent's chief operating officer Ren Yuxin, the idea here is to offer real-time, tailor-made product recommendations based on a variety of factors like age, gender, location and purchasing power.

That is encouraging news for industries from traditional commerce and finance to manufacturing. Physical malls will get immersive online-to-offline solutions at a lower cost, and manufacturers stand to enjoy a digital twin for simultaneous, remote monitoring of production bases with much lower human costs and higher efficiency.

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That has eased some depreciation pressure on the currency at a crucial moment when the renminbi has weakened and moved closer to the psychological threshold of 7 yuan per dollar, the weakest level in a decade.

Thai cabinet early this month approved the Bangkok-Nakhon Ratchasima high speed railway project under Thailand-China rail cooperation, which is set to start operation in 2021.

That doesn’t mean Amazon is willingly ceding any ground to its competitors, and especially not to Microsoft. Its announcements this week included a new service called Babelfish for Aurora PostgreSQL, designed to help customers dump Microsoft’s SQL Server database technologies. Announcing the new Amazon service, Jassy criticized Microsoft for “punitive” licensing restrictions that keep businesses from running SQL Server in competing clouds.

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Thailand, Japan and Malaysia remain the top overseas destinations for Chinese travelers for the fifth straight year, but the number of Chinese travelers going to emerging destinations such as Ireland, Luxembourg, Montenegro and Brazil also grew rapidly.

Tencent, iQiyi and Youku are three top video websites in China, followed by LeTV and Sohu.

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Telecom companies are facing mounting pressure as the benefits of 4G networks are nearing an end and they have to invest heavily in the R&D of 5G, the next generation mobile communication networks.

Tencent's market value now stands at 9 billion, making it the second-largest company in Asia after New York-listed Alibaba Group.