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"China's refining industry has become a grand stage for State-owned, private and foreign enterprises to compete fairly and achieve win-win cooperation," Li said.

"Competition between domestic makers and their foreign rivals is going to become more intense in the coming future. Without comparative edges, foreign smartphone vendors are going to lose even more market share," said Roger Sheng, research director at consultancy Gartner Inc.

"Convenient payment services sound simple, but they can encourage immense spending growth," said Alexander Yin, chief financial officer at TGC, the parent company of ePassi, the Finnish payment terminal provider that works in partnership with Alipay.

"Countries around the world are in very different phases of the epidemic. There are certainly places like Europe and the US where the number of cases continues to rapidly increase, while it appears to have stabilized in other parts, including several Asian countries," Sadr said.

"Considering the European market tends to be conservative and stable, the end of the EU's restrictions won't affect demand immediately but the demand in the European market is likely to be higher than the originally anticipated figure due to price cuts starting from next year," he said.