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"Chinese carmakers cannot rely too much on their joint ventures for profit, which means they have to work harder on their own models. This will help cull the incompetent but cultivate the competitive such as Geely." Zhang said.

"China's wealth management industry will embrace a historical transition of business models and a comprehensive restructuring of its ecosystem. The establishment of ABC Wealth Management is an important measure taken by the Agricultural Bank of China to carry out supply-side structural reform in the financial sector, further implement new regulations on the asset management industry, push for high-quality development of the real economy, and actively tackle changes in the wealth management industry," said Zhou Mubing, chairman of Agricultural Bank of China, the country's third largest commercial lender by assets.

"Compared to how China respond to previous revolutions in information technology, the speed at which China is following the current trend is the fastest," the review quoted Shouyi Yin, vice director of Tsinghua University's Institute of Microelectronics as saying. Yin is also the lead author of a paper describing the design behind "Thinker."

"China wants to become less dependent on the US and other Western suppliers," he said.

"China's industrial internet sector is entering the fast lane. A slew of new breakthroughs, new models and new applications have emerged," Sui Jing, deputy head of information and telecommunications at the Ministry of Industry and Information Technology, said at the 2020 World Industrial Internet Conference which opened on Sunday in Qingdao, Shandong province.