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As China's economy has grown in the past 38 years, so, too, have the spending habits of urban residents. In tandem with the rapid uptick in economic fortunes of the country, people have gradually increased spending on things like education, entertainment, travel and culture.

Artists known as “They Drift” created a mural that was placed on Amazon’s campus in Seattle as part of the “Choose to Include” campaign for the 2018 Special Olympics USA Games. (Photo via Amazon)

Approved by the State Council, the award is organized by the China Federation of Industrial Economics and major industrial associations from sectors including coal, machinery, iron and steel, petrochemicals and light industry.

As China has been making strides in the development of 5G, artificial intelligence, internet of cars, big data and cloud computing, Chinese IC companies should team up with firms specializing in these emerging industries to take advantage of their opportunities.

Arnoud Balhuizen, chief commercial officer of BHP [Photo/China Daily]