In the past five years, the Chinese snack food industry has grown at a compound annual growth rate (CAGR) of more than 6 percent, said Wang Chongyang, founding partner of Doc&Doc Strategy Consulting, a Shanghai-based consulting firm.
"We forecast the Chinese snack market to expand to 2 trillion yuan in the forthcoming 10 years through 2035," Wang said, citing a joint report by Doc&Doc Strategy Consulting and the industrial research institute of the 21st Century Business Herald.
On Aug 17, the US Department of Commerce (DOC) announced its decision to require foreign manufacturers using US technology to get a license if they plan to sell semiconductors to Huawei.
Escalating suppressionLast year, the DOC essentially banned US firms from selling Huawei chips made in the United States.
In May, the DOC amended a rule to target Huawei's acquisition of semiconductors that are the direct product of certain US software and technology.
The year 2022 marked the 20th anniversary of the signing of the Declaration on the Conduct of Parties in the South China Sea, or DOC.
Since the signing of the DOC, China and relevant countries have carried out a wide range of cooperation in maritime transport security, including providing necessary financial support, ensuring navigation safety and tackling transnational crimes, said Li Guoping, chief safety supervisor of China's Ministry of Transport.