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As Beijing's first department store built in 1955, the Beijing Department Store has been struggling to survive, as e-commerce has reshaped the country's retail landscape. Companies sell things online at lower margins, and Chinese consumers have become used to clicking on their smartphones and having their goods delivered to their doorstep.

As China has ramped up support for the new economy in the A-share market through policy reforms, unicorn companies have already accelerated their IPO plans, Yang added.

As 2018 models roll out during the second half of this year, more vehicles will offer automatic braking, said Dean McConnell, an executive with Continental's North American business. Continental's automatic braking technology systems will be on certain Nissan models.

Around the same time that Amazon dropped the clause, Microsoft announced plans to let its cloud customers actually use Microsoft’s array of patents in their own defense should they find themselves on the wrong end of a lawsuit. It’s not hard to imagine Microsoft cloud sales people in competitive sales situations pointing to its Azure IP Protection policy while highlighting a clause in Amazon Web Services’ agreement that implies you can never assert patented technology against it.

As China is under mounting pressure posed by imported COVID-19 cases, Zhao said that it hopes to work with African countries, through "mutual understanding, mutual support and cooperation", to stop the spread of the virus.