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"But technology by itself is not enough. Projects with advanced technologies must be accompanied by viable business models, stable regulation, and smart policies to deploy the technologies," Nakao added.

"China Earthquake Catastrophe Model v2.0" is an important achievement made by the government, academia and enterprises through their concerted innovation . In order to better develop this model, China Re initiated China's first fin-tech company of catastrophe risk control – China Re Catastrophe Risk Management Company, and brought in a professional model development team with overseas working experience. China Re has integrated valuable scientific research and data resources with the support of professional research institutes including the Institute of Geophysics and the Institute of Engineering Mechanics of China Earthquake Administration. China Re applied for the State Key Research Project, “Earthquake Insurance Loss Assessment Model and Applications”, and received special fund from the Ministry of Science and Technology of China. The above-mentioned work ensured that the model development was completed within two years. Currently, the model has been recognized by the Seismological Society of China as a first-class international model. The model platform has also been tested and certified by authoritative software evaluation agencies, with complete technological verification certificates, user documents, technological documents, and training and operational service systems. The model is thus fully-qualified and ready for commercial use.

"But the US dollar remains the wildcard. If and when the greenback strengthens again, the renminbi will come under renewed pressure, reigniting capital outflows. Then we cannot rule out a further clampdown on outflows, in order to safeguard foreign exchange reserves," he said.

"China hopes the security meeting will further maintain common interests, push forward political and security cooperation among the BRICS countries, improve the impact of the bloc, and prepare for the BRICS Leaders' Meeting in Xiamen this September," Lu said.

"But the mobile payment system in African nations is quite advanced, and as the first Chinese e-commerce company operating in Africa, Kilimall has set up its warehouses in Africa and offers sameday and next-day delivery services," he said. "We aim to cover the entire continent by 2021."