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The market value of the intelligent connected vehicle industry and related sectors in China is expected to reach 100 billion yuan (.5 billion) by 2022, according to a white paper released by the Beijing Commission of Economy and Information Technology.

The massive amount of data generated in China can create opportunities for the nation to become a global leader in artificial intelligence, too.

The market should play a decisive role in allocating resources while the government should play its role better to boost market vitality and foster new drivers for growth, the guidelines said.

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The medical service providers will also work with venue operators and local governments to streamline transport routes both on the ground and in the air in case a helicopter rescue is needed.

The minister recalled the successful trade mission she led to China last year for the inaugural China International Import Export in Shanghai.

The ministry will also accelerate efforts to push forward the development of 5G hardware, including smartphones, Miao said in an interview with China Central Television on Thursday.

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The ministry also pledged severe punishment for misconduct.

The market's success has mainly been attributed to China's opening up in recent decades, during which trade between China and the rest of the world has not only remarkably altered people's lifestyles but also tremendously boosted the global economy.

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The measure will have a "far-reaching impact," said Li, as it could free capital previously frozen on companies' balance sheets.

The market, founded in 1988, has expanded rapidly with the country's economic growth. It covers an area the size of 170 soccer fields, and for years has supplied more than 80 percent of the capital's agricultural produce. It became known affectionately as the capital's "giant veggie basket" and "fruit platter".