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The competition among securities firms in terms of the underwriting and sponsoring business has thus intensified. Beijing-based China International Capital Corp has so far been responsible for the sponsoring and underwriting of 14 STAR Market-listed companies, outperforming all its peers. China Securities and CITIC Securities followed, handling 11 and nine STAR Market-listed companies' sponsorships and underwriting, respectively.

The company, in Los Angeles, also introduced products made by transportation and equipment accessory manufacturers based in Guangzhou, Shenzhen and other Chinese cities. It, as a result, gave a boost to China's total export of rail products covering the whole industrial chain.

The company is moving the decision-making authority from its corporate headquarters to China to meet the local market's specific needs.

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The company said in a statement on its Sina Weibo account on Monday that reviews of restaurants and eateries made up less than 3 percent of the user-generated content on the Mafengwo platform, which includes travel itineraries, diary entries and photo sharing.

The company's quality control monitors soil composition and the use of fertilizer and pesticide, which makes the price of the company's vegetable about 1,000 yuan higher per metric ton than the average vegetable price.

The company's AI institute has seven laboratories in Beijing, Nanjing in East China's Jiangsu province and Guangzhou, focusing on research in AI infusion on smart medical and health services, robotics, big data, computing and finance, information perception and automation.

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The company now has nine manufacturing sites in China that primarily serve domestic customers. More than 85 percent of 3M products produced in China are used in China, the company said.

The company reversed to losses in the first quarter of 2020 as the COVID-19 epidemic hurt business.

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The company only began to focus on global expansion last year, with a keen eye on Southeast Asia.

The company is one of the world's top providers of security scanning equipment, which has clients in about 50 countries.