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"Even 10 years ago, all the street lights (in China) were all LED. There were street sensors for traffic tracking and control," said Yu. "It all happens very quickly, because whenever there's a hot technology, the Chinese people will go for it."

"During the pandemic, many residents like me, with little education, have just scraped by. But the opposition just aims to paralyze the LegCo, so I have not been able to get any of the financial assistance meant for new immigrants during this tough time," he said.

"Do you think most of those guys and women are suckers?" Biden asked.

"Enterprises investing and operating in BRI countries point to often serious levels of tax uncertainty that arise from poorly drafted, unclear or complex tax rules, excessive documentation requirements and unpredictable or inconsistent tax treatment," said Lewis Lu, head of advisory services provider KPMG China.

"Despite its GDP growth deceleration, China has provided continuous high growth rates. To that end, American firms can benefit from the growth opportunity in China," he said.