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He also noted that the development of a smart lab is a time-consuming process. "What we see today is just the beginning. To benefit more enterprises, we have a five-to-10-year plan for smart lab development. In the future, we hope more partners will join us."

He advised policymakers to encourage joint-stock commercial banks and microcredit companies to play a bigger part in providing financing to micro and small companies, as these financial institutions are more flexible and experienced in serving small business clients than large State-owned commercial banks.

He added that an increasing number of youngsters born after 1990s and 2000s are trying to become virtually beautiful through online self-editing apps.

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He also stressed that the balance between cooperation and competition needs to be carefully managed, and the solution is to find mutual benefit and win-win opportunities.

He added that although Western tourists make up less than 10 percent of Hong Kong's tourism market, the US move to raise the travel advisory for Hong Kong will dampen global sentiment to travel to the city and other Western countries may follow suit.

He added that the whole-year GDP growth this year could be 6.7 percent to 6.8 percent, a moderate decline from last year's 6.9 percent growth, because infrastructure and real estate investment are expected to fall mildly.

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He also noted that healthy and stable China-Australia relations conform to the interests of their people, and hopes Australia will work in the same direction with China.

He also said that he believes Pyongyang had taken specific steps toward denuclearization.

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He added that the US withdrawal will be deliberate and safe, and will take "weeks not days."

Having done research into Koo's life over the past three decades, Jin Guangyao from Shanghai's Fudan University lauded Koo's perseverance and foresightedness. (It's worth noting that Juliana Young, who later married Koo, was among the first group of female students enrolled at the university, in the late 1920s.)