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"Cooperation between the US and China is critical to meeting all of the challenges facing our world, from economic growth and trade to security and climate change," the media mogul said.

"Consumers in the old world were defined by their possessions, and companies were able to meet their customers' needs to an adequate degree with static business models and a 'one size fits all' marketing strategy that followed major trends," AT Kearney's He said.

"China will end domestic poverty by the end of this year, which makes the nation a front-runner in reaching the UN's 2030 Sustainable Development Goals," said Song Tao, head of the International Department of the Communist Party of China Central Committee. "We would like to share our experiences with other countries around the world."

"Companies' future business models and their success will depend on how effectively they implement cybersecurity measures," Jain said.

"Consumers now have higher expectations for online-to-offline business," said Bruno Lannes, a partner at Bain & Co, the global management consulting firm, in China. "Retailers must come up with new models."