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"China is pursuing long-term goals and is trying to focus on upgrading its economy and meeting the growing demand of domestic consumers while the US is seeking short-term gains. Judging from the talk results, the country (China) has ensured its core interests," said Mei Xinyu, a researcher at the International Trade and Economic Cooperation Institute, part of the Ministry of Commerce.

"But uncertainties and pressure remain ahead as many migrant workers haven't left their rural hometowns or had to come back after failing to land a stable job in cities," he said during a news conference held by the State Council Information Office.

"China has played an important role in the growth of this business segment," Tikal said. She said due to Dubai's convenient location and visa on arrival policy, there was also an increasing demand for small-scale conference services from Chinese businesses.

"China has strong internet presence with well-known players such as Baidu, Alibaba and Tencent. In comparison, Singaporean companies excel in business-to-business technologies, and have good solutions in finance, transportation and logistics," Tan said on the sidelines of the ongoing 2018 Smart China Expo, one of the largest information communication technology events the Chinese government has organized.

"But there are still huge gaps between SMEs and large enterprises, in digital strategy, talent, technology and capability. During the pandemic, the need to go digital has become even more pressing than ever. We want to use the information and communications technology to help European SMEs stay competitive. We want to help them go global," Li said at the second round of Huawei European Innovation Day 2020, an event held online in Germany.