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"By combining SHKP's expertise in retail and Tencent's leading technologies, we aim to enhance consumer experience and empower customers through greater flexibility and convenience as they go about their daily lives. We look forward to deepening our strategic cooperation with SHKP in the future."

"China holds the promise to become a primary source of many next-generation medical technologies. Medtronic is determined to capture the opportunity through continued investments in local R&D capabilities and technology partnerships, as we believe technology has greater potential in addressing unmet medical needs - which will therefore drive our business presence," said Gu.

"By securing multiple COVID-19 vaccines we are giving Australians the best shot at early access to a vaccine, should trials prove successful," he said.

"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 and India both are developing countries and major emerging economies with huge home markets," said Gao Feng, spokesman for the Ministry of Commerce. "The two countries are highly complementary in terms of economic development models."