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As the most important economic cooperation mechanism in the region, APEC has taken the lead in regional cooperation by promoting regional economic integration, exploring new cooperation areas and expanding development potentials, said Li.

As the end of the first quarter this year, Chinese banks' total assets reached 276 trillion yuan (.1 trillion), up by 7.7 percent year-on-year. The non-performing loan ratio of commercial banks stood at 1.8 percent as of the end of the first quarter, slightly higher than the ratio of 1.74 percent in 2017. The banking sector also reported net profit of 571.5 billion yuan in the first quarter, up 6.09 percent year-on-year, according to the China Banking Association.

As to traditional industry, Ma cited the example of Tencent's cooperation with Shenzhen China Star Optoelectronics Technology Co Ltd, a display panel maker. They developed an AI system to assist quality examination, which can shorten testing time to a hundredth of traditional method's and increase accuracy rate to above 90 percent.

As the year draws to a close, we’ve been looking back at some of the key moments of 2011 in the technology industry. And there were plenty of low points, as documented in our list of the year’s biggest tech debacles earlier this week.

As the national security law for Hong Kong has taken effect, one of the most concerning issues for some HK residents is whether it will undermine its status as an international financial center. Let's watch the video to find out the answer.