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As China leads the world in internet of things development and adoption, companies here encounter greater motivation to adapt and stay competitive in a market characterized by particularly high-paced advancement, according to a report from the global consultancy firm PwC.

Article 45 of the Basic Law stipulates that selection of the chief executive by universal suffrage shall be "upon nomination by a broadly representative nominating committee in accordance with democratic procedures".

As I see it, the rapid growth of online shopping is a challenge to the traditional retail industry. Improved shopping experiences, reasonable prices and application of high-tech appear to be the future trend.

Apple Inc and Goldman Sachs Group Inc rolled out a virtual credit card on Tuesday, which will help the iPhone maker diversify from device sales and also build out the Wall Street bank's new consumer business.

As China further opens up the VC industry and competition intensifies, domestic players will become more capable, Zhou said.