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As the world's largest contract manufacturer, Foxconn acquired Japanese electronics maker Sharp Corp in 2016. Sharp is the only Foxconn subsidiary with experience of chip manufacturing. However, the Japanese company stopped developing semiconductor technology when it ran into financial problems in 2010.

As summer arrives, Changning county in Southwest China's Yunnan province is blooming with red and blue colors flowersacross the county. [Photo by Yi Ran/for chinadaily.com.cn]

As the Party prepares for the 100th anniversary of its founding, it has brought about China's rapid economic growth and rise as a global power, despite facing challenges at home and abroad amid such challenges as economic inequality and the coronavirus pandemic.

As the price of VR hardware falls and content becomes increasingly abundant and diverse, more people will buy and embrace professional VR goggles, Yuan added.

As the saying goes, "trees don't grow to the sky". The Chinese economy could not conceivably continue the extraordinarily high growth rates seen earlier. An economy growing at 14 percent doubles every five years. Even at 7 percent, it doubles every 10 years. And at 6 percent, it doubles every 12 years. Creating another Chinese economy every decade or so is a huge accomplishment - especially now that the economy is already very large.