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In the same month, Samsung Electronics Co Ltd also revealed its much-anticipated foldable phone, but the world's largest smartphone vendor won't ship it until the first half of 2019.

In the past 20 years, the unprecedented large scale of urbanization has led to a housing shortage and booming demand, but he said it has ended, citing the fact that the ratio between the number of families and housing units in China has just passed 1. Growth is expected to slow after each family owns more than 1.1 units of housing, which is the case in many developed countries.

In the report, recommendations for the digital future were put forward, based on three main areas: inclusivity, trust and cooperation.

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In the meantime, China's service robot market will reach 1.32 billion U.S. dollars this year, up 28 percent year on year, according to the report.

In the recent five years, with the new digital technology, thriving sharing economy and rising environmental awareness, shared bikes and public bikes have gathered strong momentum, marking the return of the "Bicycle Kingdom".

In the latest quarterly monetary policy report, China's central bank reiterated that the property sector will not be used as a means of short-term stimulus and vowed to maintain the continuity, consistency, and stability of property financial policies.

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In the same period, premium women's fragrances grew from 2.69 billion yuan to 3.87 billion yuan, jumping 43.9 percent in five years, according to the market researcher.

In the short term, however, the A-share market may witness fluctuations and remain highly sensitive to news on the Sino-US trade talks, Gao Ting, head of China Strategy at UBS Securities, said in a note on Tuesday.

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In the run-up to the event, China Daily reporters Hu Yuanyuan, Ouyang Shijia and Fan Feifei quizzed senior executives from three internet-based businesses that are at the forefront of online innovation. Here, Chen Jin, executive director and CEO of ZhongAn Insurance, Nathan Blecharczyk, co-founder, CSO, and chairman of Airbnb China, whose app facilitates home-sharing, and Gong Yu, founder and CEO of iQiyi.com Inc, an online entertainment services provider, discuss how the internet is re-shaping innovation and how it will likely influence larger economic forces in the years to come. Excerpts:

In the long run, the country needs to implement a long-term mechanism and offer a proper credit environment to help ease the financial pain of small and medium-sized enterprises - those which are most likely to be affected by market volatility, according to analysts.