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As China's consumer market evolves, foreign companies operating in the country have also been shifting their model from "made in China" to "made for China", he said, noting that some 78 percent of the firms now produce goods and services in China for the local market, while the proportion was less than 23 percent in 2003.

Arc sales tripled from 2016 to 2017 and more than doubled the following year, Bloomberg reports. Prakash said the company envisions revenue from Arc rivaling subscription and ad revenue down the line.

Artificial intelligence has a big role to play in empowering the traditional education system, its concepts and pedagogy, experts and scholars said during a sub-forum of the World Artificial Intelligence Conference in Shanghai on Friday.

As PBOC officials reiterated, the CBDC will replace bank notes and coins, or the cash in circulation (M0), and it is designed for retail payments at the early stage.

Apple passed a new milestone Tuesday — reporting more than 6 billion in cash and marketable securities. That’s a lot of iPhones and iPads, but perhaps more notably, it’s?more cash than fellow tech giants Microsoft, Google parent Alphabet and Amazon combined.