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"Expansion to the nonalcoholic drink sector is clearly a route to growth," he said.

"Emerging technologies including unmanned delivery will be the core engine driving its businesses in the future," he added.

"Equally critically, policymakers need to foster stronger potential growth by boosting human capital, removing barriers to investments, and promoting trade integration within a rules-based multilateral system," the report said.

"Didi's intensified overseas efforts, including this fresh fundraising, will no doubt pose a great threat to Uber. Uber's valuation is shrinking due to its operation problems while we witness Didi is ascending in overseas markets through cooperating with local partners," Zhang added. In the past few years, Didi Chuxing has been pushing its overseas presence rapidly with investments in several of Uber's rivals globally, including US-based Lyft, Brazil-based 99, India's Ola, Singapore-headquartered Grab, Estonia's Taxify and Careem in the Middle East. It also ended the battle with Uber in the Chinese market last year by acquiring Uber's local business.

"E-commerce trade volume reached about 1 billion yuan between January and September. The increase is smaller due to the pandemic, but steady," said Zhong Huanyu, director of the office of cross-border e-commerce at the Heihe Area of of China (Helongjiang) Pilot Free Trade Zone (FTZ). The number stood at 1.4 billion yuan (0 million) last year.