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And he noted that Southeast Asian companies, in particular those with a vast pool of Chinese business links and information, would find the opportunities created by the Bay Area attractive and potentially rewarding.

Anbang bought the Waldorf from Hilton Hotel Group when there was a rise in Chinese investment in US real estate.

Angelo Giardino, CEO of milk, ice cream and industry sales, Nestle China, said that Nestle is preparing to integrate its long experience and achievements in scientific research in the field of nutrition with modern technology to help middle-aged and elderly groups balance their diet to improve their nutrition in a convenient way. Giardinor said the efforts to embrace digital tools is to engage more with daily consumers among the middle-aged and elders in China as they are frequent users of internet and mobile devices for social, gaming and entertainment contents. The platform is also a two-way communication for Nestle to better understand their consumers through data collecting.

Analysts said the move will help the country achieve a more coordinated social, economic and environmental development.

Analysts attributed the growing technical strength of the firms to higher research input. Data from annual reports showed that the combined research and development (R&D) expenditure of the firms totaled 59.91 billion yuan (.8 billion) in 2018, up 15.69 percent year-on-year.