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An affluent aging population, accelerating urbanization and smaller families will be growing consumption engines in the next decade in China, which will use new technologies including 5G for retail development, said top industry leaders.

An African swine fever outbreak had led to a shortage of more than 10 million metric tons of pork in China, or at least 20 percent of China's total pork output in 2019. It will take about six months for a recovery in the pig production capacity and breeding of new pigs. The shortage has helped pig breeders achieve strong earnings and created more billionaires in the sector.

An employee counts yuan banknotes at a bank in Beijing, April 13, 2016.[Photo/Agencies]

An American previously based in Silicon Valley, Lalonde started his career at Microsoft in 1990 and since then has held a number of executive roles in several software companies, such as McAfee and Brocade Communications Systems.

An employee works at the A320 family final assembly line of the Airbus plant in Tianjin. REUTERS