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As a global provider of information and communications technology infrastructure and smart devices, Huawei operates in more than 170 countries and regions, helping connect one-third of the world's population.

As a non-governmental and non-profit think tank and advisory body, it is designed to provide policy and legal consultation, as well as intellectual support to bolster trade and investment cooperation between enterprises of the two sides, and further deepen the China-CEEC cooperation.

As for why China should look to Europe when developing its AI strategy. He said Europe has world-class researchers, laboratories and startups in the field of AI, making it home to the world's leading AI research community.

As an increasing number of middle-aged people and seniors are taking their familiarity with technology from the workplace with them into retirement, many have started shopping online, including on Taobao and JD, two leading Chinese e-commerce sites.

As a result of the pandemic, corporate finance has grown rapidly so far this year. In the first quarter, China's new yuan loans reached 7.1 trillion yuan, of which 6.04 trillion yuan were new loans to enterprises and public institutions, according to the central bank.