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"Companies with continuous losses and high debt-to-asset ratios will face risks, along with private construction, coal, logistics, real estate, and small thermal power companies," he said.
"China's not going anywhere," he said.
"China wants to be the leader, not the follower in the generation of 5G," said Richard Yu, the CEO of Huawei's consumer products division, who made the speech. "We were late in the 3G development, but we caught up with others in 4G and will be the global leader of the ICT (information and communications technology) industry in the era of 5G."
"Cross-border e-commerce greatly lowers the bar to enter global trade as the scale of doing business online doesn't need to be huge. Thereby, it is involving more participants, especially SMEs, in commerce worldwide," said Liao Xiaoqi, former vice-minister of commerce, prior to the Boao Forum for Asia, which officially kicks off on Thursday.
"Chinese cities have been innovated in a way that has never been done anywhere in the world. There were no models and this cannot be learned from the West. The West has never done anything similar－to accommodate such a large migrant population in such a short time."
