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Huawei had 45,000 stores worldwide by the end of 2017, according to its latest annual report.

Huawei's consumer business showed strong performance, with multiple terminal products seeing rapid growth. Its smartphone shipments exceeded 240 million last year, ranking the second in the global market. Personal computer and wireless audio businesses both saw robust growth of more than 200 percent.

I always get a kick out of politicians who try to look hip by mentioning new technologies.

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Huo Jianguo, vice chairman of the China Society for WTO studies, attributed foreign investors' enthusiasm to China's great market potential and eased restrictions.

Hung is also optimistic about the prospects of the Bay Area's technological innovation industries. "There is a massive market there, which is a huge opportunity for the local science and engineering talents. It is also beneficial to revitalize our city's industrial structure," he said.

Huawei also said earlier that it has developed its own mobile phone operating system, which could replace Google's Android operating system in its smartphones in case the US software firm restricts its system from use by Huawei devices.

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I am very pleased to be able to be here in China to take further forward the global strategic partnership that we have established between United Kingdom and China.

Huawei maintained the top position in the market, with shipment volumes of 36.3 million units, up 27 percent from the year-ago period. Its market share rose to 37 percent from 27.4 percent. The tech giant was also the only company that registered an increase in shipments among the top five smartphone makers, IDC report showed.

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Huang Ou, deputy director of Shanghai Municipal Commission of Economy and Information Technology, said at a news conference in July that the Tesla factory would be the largest foreign-invested manufacturing project in Shanghai so far.

Hubertus Troska, a board member at Mercedes-Benz parent company Daimler, said the carmaker is confident in China's potential in the premium car segment, which has maintained a rising trajectory despite the slowdown in the overall car market.