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"China may also increase input in science and technology, research and development, and education," she said. "Its investment in basic research and frontier technology fields, such as semiconductors, robotics and high-end manufacturing, is expected to increase and further push development of the digital economy."

"Candidates with five years of experience can hardly be found in the domestic job market. Therefore, companies are looking for such talents in the United States, Japan, India and Israel where AI development started relatively earlier," he said. Over time, companies have also been able to screen the right talents, who are able to carry out academic researches independently and put their research results into real practice, he added.

"China is a huge market with unparalleled potential. China's consumption will top the world this year or next year, and China's GDP will also exceed the US by the end of the next decade. However, China's real estate transaction only accounts for about 1/20 of the US, posing great growth potential."

"China doing better in 2020, is very important for China. It is also very important for the rest of the world given China's share in the world economy," the IMF chief emphasized.

"But the most challenging situation is yet to come, probably in May and June, when there is a time lag of about one to two months from receiving an order to delivery," said Pan, 42, who is based in Ningbo, Zhejiang province. Zhejiang is one of the country's major centers of foreign trade.