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As local companies consider shifting to cloud services to accelerate digitalization and achieve industrial upgrades, they also increasingly embrace domestic platforms over foreign ones amid concerns over information security, Wang said.

As long as employment remains stable this year, whether economic growth is lower or higher is less important, he said.

As part of his comments, Turner also noted that Microsoft isn’t just approaching the market from its legacy Windows business. “We had 400 million people using Hotmail.com, which became Outlook.com. We had 300 million people using Skype and if you look at our services in the cloud it’s allowed us to participate in this commodity priced storage and compute environment and upgrade those customers to our value-added services.”

As of March, China had invested billion in other SCO members, mainly in large-scale projects in the energy, minerals, transportation, construction and manufacturing sectors, including the China-Kyrgyzstan-Uzbekistan highway.

As part of the country's broader opening-up push, the National Development and Reform Commission said earlier that China will phase out the 50 percent equity cap this year for foreign aircraft manufacturers in joint ventures in China.