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Wang added that SSF manages assets totaling about 2.2 trillion yuan (5 billion) and its annualized rate of return in the past 10 years is 8.37 percent.

Wang Junsheng, an Asia-Pacific studies researcher at the Chinese Academy of Social Sciences, said risks of conflicts on the Korean Peninsula are "higher than at any time in recent years".

Wang Xiaochuan: China has three main advantages. First, the demographic dividend. The more the users, the lower the marginal cost.

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Wang said app companies need to be vigilant over issues such as religious sensitivity and copyright compliance by developing customized market policies and multicultural teams.

Wang Shouwen, vice-minister of commerce, said China will further reduce the threshold for foreign investment, and continue to optimize the investment environment and protect the legitimate rights and interests of foreign-funded companies.

Wang has performed in more than 20 countries including the United States, Italy and Portugal.

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Wang said the EU's conclusion lacks factual grounds, urging the EU to correct wrongdoings. He said China will take necessary measures to protect the interests of Chinese enterprises.

Wang said quite a lot of the favorable tax policies that have been adopted were targeted to support small businesses.

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Wang Wenbin, a spokesperson for the Chinese Foreign Ministry, speaks at a news conference on July 23, 2020. [Photo/Ministry of Foreign Affairs]

Wang said that as the internet lowers the threshold for content creation and distribution, enabling more people to enter the market, a higher capacity to screen projects and funds with high potential becomes more important than ever before.