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"By accumulating mass data, the analysis is expected to become even more reliable," Chen said.

"China is ahead of the rest of the world in terms of application innovations in many sectors, including financial, retailing and e-commerce," said Sanjay Poonen, chief operating officer of VMware, in an interview with China Daily.

"China is good at scaling up the innovation that will have global impact. Whenever there's a new technology or a new industry, China is a good place to scale it up," he said.

"China is today our biggest emerging market with a potential for growth that is already materializing year after year. It is a market that is opening up to our products and in which we have placed many hopes of future growth," he said shortly after the opening of the 20th Habanos Festival on Monday.

"But some cultural stigmas, such as misunderstanding of donations from the rich, and policy restrictions related to taxation and foundation registration, have hampered their activities," Deng said.