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The region saw more than 13 million domestic and overseas tourists in the first half of 2019, a year-on-year increase of 20 percent, and its travel revenue hit 14.93 billion yuan, up 19.8 percent year-on-year, the department said.

The report said German firms in China are generally upbeat about the outlook for the Chinese market this year despite downward economic pressure, predicting stronger turnover and profits.

The report suggested a growing consumption power of China's aging population and a narrowing gap between urban and rural areas in this regard.

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The report noted that the potential for light manufacturing to relocate out of China into lower-cost economies in the region should offer Cambodia scope to attract foreign direct investment or FDI in a variety of areas beyond garments and footwear, which have long been the mainstays of the local economy.

The report selected 10 "New Deal" cities such as Xi'an, Nanjing, Wuhan, Chengdu and Tianjin for comparative analysis.

The report notes that while Alexa may be the future, online retail is still at the center of the Amazon universe. It brings in more revenue than any other service, followed by its third-party sellers Marketplace?and Amazon Prime subscriptions.

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The relations between the United States and Singapore are "prospering," said Lee, who also vowed to deepen bilateral ties in the future.

The report points to a March speech by Margrethe Vestager, the European Commission’s vice president in charge of competition and digital policy, indicating that the EU’s past experience investigating and prosecuting companies such as Google and Alphabet have shaped its approach, and its pursuit of new powers to force changes in business practices.

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The report came just days before President Xi Jinping meets German Chancellor Angela Merkel, European Council President Charles Michel and European Commission President Ursula von der Leyen in a video conference on Monday. The negotiations for a bilateral Comprehensive Agreement on Investment, which both sides hope to conclude by the end of this year, are expected to be high on the agenda.

The report said the US, China and the United Kingdom are at the forefront in AI. From 2013 to 2018, global scientists published more than 300,000 papers in AI research, with China leading in the number of published papers at 74,408, followed by the US at 51,766.