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"Compulsory technology transfers are explicitly banned, while we encourage the exchanges of knowledge and technology," he said, ruling out that China forces foreign companies to transfer their technology when considering investments in China.

"Company leaders need to focus more on using data for accurate analysis, which can enhance the whole process, ranging from product design and target groups, to marketing tools and after-sale services," Li said at the 2018 iPinYou Artificial Intelligence Conference.

"China's Belt and Road Initiative will be a focus for discussion again this year, as the initiative is China's solution and wisdom for embracing globalization and to generate new growth opportunities for the global economy," Xu said.

"China's M2 growth is slightly lower than nominal GDP growth, but we should monitor more indicators, such as prices and jobs, to see whether liquidity is tight," he said at a press conference during the ongoing first session of the 13th National People's Congress.

"Chinese carmakers responded fast to local market trends like SUVs, so they could develop fast in the past decade," Li said.