"The new wave of applications and the revolution of big data have brought opportunities for the transformation and reconstruction of the manufacturing sector"

Terry Gou, founder and chairman of Foxconn Technology Group. AI and big data technologies will help reduce costs and improve efficiency, paving the way for factories of the future, Gou said.

"We recently launched a product that is priced above 700 yuan per liter to tap into the premium market. If it works, we may launch products costing 1,000 yuan per liter"

John Fan, general manager of Shuijingfang, a Chinese baijiu maker

"The rising mortgage rate has lowered the expectations of many first-time buyers. It means the cost of buying property will keep going up."

Guo Yi, marketing director of real estate consultancy Yahao. Rates for first-homebuyers have contributed to a decline in Beijing property sales, but housing prices are not likely to fall sharply, said real estate insiders.

(China Daily Africa Weekly 06/09/2017 page24)