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"Facial recognition is now already widely used to help smartphones shoot better pictures, to simplify security checks at railway stations and airports and to help police to track suspects and spot suspicious behavior in China. Such application scenarios are also of great potential in other countries," He said.

"Dual circulation" underlines the need to give full play to the country's hyper-sized domestic market, in order to inject new impetus into the Chinese economy through enhanced domestic circulation. But, it also requires unwavering opening-up to make better use of resources and domestic and overseas markets, Ma said.

"E-commerce has helped Kroger to reach new customers and markets where it does not have physical stores, starting with China," Yael Cosset, chief digital officer of Kroger, said in a statement.

"During that time, there were a lot of cultural exchanges and it was a time when China was prosperous and strong," Jiang said.

"Economic cycles are a fact of life. they will happen and maybe we're going into a downturn now, but that isn't going to destroy globalization -- it will interrupt it, but It won't destroy it," O'Neill said.