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And there is no better place to witness these developments than in Wuxi, a national hub of the internet of things sector that has been promoting and developing IoT applications for the past decade.

And so I think that what’s so interesting about this is it now gives Amazon a big toehold in New York City, which is where you would put the global headquarters of one of the world’s largest corporations and it gives them a foothold in D.C., a great place to attract talent, and it’s next to The Washington Post, in the seat of the American government, which is where you’re going to mitigate against antitrust. If you have tens of thousands of jobs there to help, it doesn’t hurt.

Analysts expected the PBOC to cut the LPR by 20 basis points, or 0.2 percentage points, later this month, to guide a further reduction of financing costs for smaller companies. The one-year LPR now is at 4.05 percent.

Analysts said gas-rich countries like the Central Asian nations and Russia will play a significant role in the natural gas trade cooperation with China in the future.

And when it comes to punishment, Li said, the logistics companies should take most of the responsibility rather than the drivers, who are at their bosses' beck and call. Only when the companies stop their cutthroat competition will a healthy and fair environment be established, he added.