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As the second revolution of modern China, reform and opening-up have profoundly changed the country and greatly influenced the world. China has not only developed itself, but has also contributed to global well-being.

As the world's two largest developing nations, China and India have every reason to avoid a war or any military conflict and rather focus on their economic and social development and the improvement of their peoples' lives.

As the growth in the future is increasingly determined by operational efficiency rather than blind expansion, more merger and acquisition activities will help consolidate the retail landscape and make big players even stronger at a regional level before more national players emerge, said the report.

As the Chinese economy adjusts to a "new normal", international financial institutions are facing a series of external challenges－from economic restructuring to low interest margins and digitization. On the other hand, these trends also present opportunities to the entire banking industry, Lam said.

As the WSJ?quipped, this clearly doesn’t have anything to do with smartphone market share because otherwise the iPhone-maker would be winning. I might add that it clearly also?has nothing to?do with perceived wealth, given that Apple’s market cap is?nearly four-times larger than?Amazon’s.