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"China has the world's largest IoT market. The AI and IoT industry have great potential in China," said Roan Kang, vice-president of Microsoft China, adding that Microsoft would provide the most comprehensive AI and IoT platform, products and solutions.

"Cashierless stores are going to be big business in China, as our research showed that Chinese shoppers have exhibited this very strong tendency of doing research online by themselves and self-serving when they make purchases," said Spencer Leung, a consumer analyst at Swiss financial services firm UBS.

"By jumping on the Silk Road bandwagon, Tibet is opening wider to the rest of the world," said Shen Bing, an expert on regional economy at the Chinese Academy of Macroeconomic Research.

"By working together, our countries are demonstrating the value that closer ties and greater cooperation can deliver," said IDC Chairperson Busi Mabuza.

"By data sharing and supply chain collaboration, we are working on providing consumers traceable and quality products," said Wang Chengjie, general manager of CCIC Traceability Technology Service.