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Robots like YuMi, which was introduced as world's first truly collaborative dual-arm robot by ABB in 2015, are designed for high-precision manufacturing such as producing smartphones or complicated electronics. Jouret believed that they would have potential to be widely applied in China as a strong manufacturing power.

Roach, also a former head of Asia and chief economist at investment bank Morgan Stanley, said China's record on poverty reduction "is unprecedented in the annals of modern global history".

Rise in disposable income and digital solutions fuel surge in purchases

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Rules and the rule of law are a protection net for traders and investors when dealing with uncertainties, risks and challenges, and also act as a fair scale that can be used to properly resolve commercial disputes, Li said.

Rich Helfenbein, CEO of American Apparel & Footwear Association, a trade group based in Washington, said Tuesday's action wasn't enough to calm retailers and consumers.

Royole, which has won many global awards for its technology innovation and fast growth - such as the 2017 Young Global Leader from the World Economic Forum, CES 2017 Innovation Award by CTA and the Best of CES 2016 by Thomson Reuters - positions itself as a startup that encourages innovation. It completed series Pre-D funding in October 2016, with a market valuation of billion, making it one of the world's fastest-growing tech startups.

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Rising to the occasion, the sector is leaving no stone unturned in applying disruptive technologies to soften the blow, leveraging growing investments being poured into it.

Rita Fan Hsu Lai-tai, former president of Hong Kong's Legislative Council, said the court made the ruling on mere legal grounds without considering the present situation.

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Responding to the expansion and more even distribution of the HNWI population, CMB, the leading private-banking player, has set its sights on third- and fourth-tier cities.

Right now we have more than 200 stores in China. More than 35 are owned and operated, the rest are managed by franchise, and we plan to extend the number of stores to 330, and open two flagship stores, in Shanghai and Beijing.