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As the cost of manufacturing increases in China, it makes sense for the world’s manufacturing hub to shift to Africa and it will be win-win if Chinese companies invest in the continent’s manufacturing sector and share their experiences with local partners, Tsang added.

As the lights dim and the audience goes quiet, Zheng Yanzhao keeps his eyes locked on the big screen, ready to watch his favorite esports team play in the 2019 League of Legends Spring Playoffs.

As the country encourages firms to move up the value chain, the list saw fewer companies in traditional manufacturing sectors such as ferrous metal production and more firms in advanced manufacturing and modern service sectors.

As the Chinese currency is not freely convertible under the capital account, the central bank has to purchase foreign currency generated by trade surplus and foreign investment in the country, adding funds to the money market.

As the new round of technological revolution is underway, new economic activities, such as e-commerce, big data, cloud computing, AI, mobile payment and others, are creating new room for future cooperation between China and Indonesia, he added.