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As China's financial regulation has been further tightened during the past year, especially to limit the less-transparent and high risky shadow banking activities, commercial banks are facing increased pressure on capital management－which is usually one of the central approaches to prevent risks.

Apple Inc's smartphone shipments in the Chinese market plummeted about 20 percent during this period, taking up 11.5 percent of the market share. Weakening demand, lengthening replacement times and iPhone's hefty price contributed to Apple's decline in China, according to IDC.

Apple's Cook did not hide his excitement from his visits to Chinese tech startups. He said China is already incredibly innovative in so many areas and there are apps and business models that could only have been created here.

Artificial intelligence adoption by Chinese businesses has outpaced the global average thanks to increased spending on research and development and industry growth, said a PwC report.

Argentine officials and scholars said the outcome of the congress can have a positive impact not just on China, but also on the rest of the world.