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Another notable Chinese chip player, Cambricon, also has a line of chips specializing in supporting machine learning tasks, contributing design support for AI in Huawei's Kirin smartphone chipset and then delivering its own machine learning solutions for data centers.

Apart from economic development, what progress in other fields have you witnessed in China in the past 40 years?

Another cool thing at Amazon was how they are their own Guinea pigs. They explained how they are coming out with a new product soon where people who live in apartment buildings in cities like New York will soon be able to utilize a central locker in their neighborhood to securely receive Amazon packages. To test this out, Amazon employees receive their own packages at similar locker locations on its campus.

Any speculative activity to short the Chinese renminbi will "inevitably suffer from a huge loss", according to Guo, who said short-term volatility of the currency is normal.

Apart from compensation and incentives for replacing outdated capacity with clean and effective capacity, the authorities should adopt more proactive policies to help axed capacity make arrangements for staff deployment, assets and properties transactions, and debt handling, according to Wu Lixin, deputy director of the strategic planning research department at the China Coal Research Institute.