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And just last week, Amazon inked a deal with the Seattle Seahawks to provide the company’s hometown team with cloud, machine learning, and artificial intelligence services. The tech will help the Seahawks better track player performance in both games and practice and build predictive models for how to defend quarterbacks and other crucial parts of the game.

And the battle is spilling beyond China's borders. Through acquisitions and partnerships with local payment networks and e-commerce vendors, both stand to offer cashless payment in 200 countries and regions.

Analysts believe China's growing gas demand will put State-owned companies under mounting pressure to open their terminal and pipeline infrastructure to more end users as the government seeks to improve end-user cost efficiency and enhance supply security.

Andrew Lo, professor at the MIT Sloan School of Management and director of the MIT Laboratory for Financial Engineering.

Analysts said the measure may help boost sales somewhat but will not produce huge impacts immediately as the sum is not significant considering cars' price tags, but they added that it shows the authorities' attitude toward new energy vehicles and smaller cars.