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Many Chinese pharmaceutical companies are able and need to go global, especially the leading ones. [Photo/VCG]

Maduro has described Washington's position as "childish".

Mahathir said he holds a very positive attitude toward the Belt and Road Initiative, emphasizing that Malaysia will maintain a friendly and cooperative relationship with China, and welcome Chinese businesses to invest in the Southeast Asian nation.

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Major e-commerce platforms are expanding their luxury businesses. More than 150 luxury brands have set up flagship stores on Tmall's Luxury Pavilion platform. In addition to working with leading platforms, a growing number of luxury brands with rare and premium offerings are stepping up their own e-commerce businesses through official websites and WeChat mini-programs.

Mai-Lan Tomsen Bukovec, VP and general manager of Amazon S3 speaking at Grace Hopper x1 in Redmond, Wash. (GeekWire Photo / Clare McGrane)

Major e-commerce platforms are expanding their luxury businesses. More than 150 luxury brands have set up flagship stores on Tmall's Luxury Pavilion platform. In addition to working with leading platforms, a growing number of luxury brands with rare and premium offerings are stepping up their own e-commerce businesses through official websites and WeChat mini-programs.

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Major risks have been dealt with promptly, and prominent cases in the financial sector have been investigated and punished strictly, including the official takeover of Anbang Insurance, the CBIRC said.

Manufacturing investment is also expected to recover in the next few years due to several factors. For example, the rebound of industrial profits since the third quarter of this year will lay a solid foundation for a rise in the production capacity in the next quarter. The increase of industrial profits indicates that China may need to increase manufacturing investment as its export demand continues to grow, he said.

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Manufacturing jobs were lost due to automation in a number of advanced economies and some middle-income countries, according to the report. Figures for the United States show that one additional robot for every 1,000 workers reduced the employment-to-population ratio by about 0.18-0.34 percentage points, and wages by 0.25-0.5 percentage points.

Ma spoke to the packed auditorium and cautioned attendees: "Don't miss the Chinese market, because China now has 300 million middle class, and the number will double in the next five years. Don't miss the chance. If you are not globalized enough that you know how to do business through the internet, you are out of business."