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Artificial intelligence is an important part of the digital economy and 5G offers strong support for its commercial application, said Zhong Zhenshan, vice-president of enterprise research at IDC.

Approximately 15 billion yuan (.3 billion) in costs will be saved by enterprises as China strives to further reduce fees charged on entities and help increase their competitiveness, according to the State Council, China's cabinet.

Argentinean President Mauricio Macri, currently on a state visit to China from May 14 to 18, attended the Belt and Road Forum for International Cooperation, which concluded on Monday. Over the course of his visit, the two countries signed cooperation and financing agreements for investments in Argentina, mainly in the areas of energy, infrastructure and agriculture, Xinhua reported. The deals were worth a total of billion, Argentinatoday.org reported.

As China is now one of the top commodity buyers in the world, the production loss in China is putting downward pressure on shipments from commodity exporters in places like Australia.

Apple said customer demand for iPhone X "is off the charts".