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"But the rush of offline gyms to the online fitness sector has given more competition to already popular online fitness apps and platforms like Keep. It also remains a question whether gyms can hold their online customers after the epidemic," he said.

"China is very important to the BMW Group," a BMW spokesperson told Xinhua on Wednesday. "Not only is it our largest single sales market, it is also an extremely important strategic market for us, as it's home to our most extensive R&D and production facilities outside Germany."

"China is now the second-largest market of Emerson," said Hakan Erdamar, president of Emerson commercial and residential solutions in Asia, Middle East and Africa. He said the planned research center will become a vital part of the company's strategy of "in China, for China".

"China is transforming from a manufacturing giant to a world manufacturing power, but manufacturing sector development is unbalanced along the value chain. Small and medium-sized enterprises need to improve their production efficiency and management models, as well as reduce their manufacturing costs," said Xu Lihong, CEO of A.BRAIN Research Institute of Intelligent Manufacturing.

"Challenges and competition can only make strong companies stronger," Wang said. XCMG converted the slump into an opportunity to review its weaknesses and come up with corresponding solutions.