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"Downside risks have become more acute and include the possibility of disorderly financial market movements and an escalation of trade disputes," the report said, warning that intensifying trade tensions could result in weaker global growth and disrupt globally interconnected value chains.

"E-commerce provides a strong driving force for economic development, but the cross-regional and virtual characteristics of e-commerce platforms also pose new challenges to the work of IPR protection," said Cao Hongying, deputy director of the IPR protection department of the NIPA. "After years of practice, China has achieved remarkable results in e-commerce IPR protection."

"Establishing the two stations will help us to develop more products and diversify our business," said Dong.

"Due to the campaign against corruption in recent years, a new problem occurs that many cadres begin to feel pressure that some do not dare to take responsibility and do practical things, which is also a dereliction of duty," he said.

"E-wallets are often backed by internet startups, telecom operators, governments and banks. In one country alone, there could be 10 to 20 e-wallet service providers, each of them having their own market," he added.