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Microsoft's Steve Ballmer and Skype's Tony Bates announce the deal in May.

Moody's said China's direct government debt burden could rise gradually toward 40 percent of GDP by 2018 and closer to 45 percent by decade's end. "That is too pessimistic," said Huo Zhihui, deputy director of rating technology at China Bond Rating Co. "Our estimates show that China's overall debt ratio will not reach 40 percent because China has imposed strict restrictions on government debt issuance," he said.

Microsoft has already proven that getting users to trust an AI can be a boon for business.?Xiaoice,?the company’s AI chatbot designed for the Chinese market, is wildly successful and not just in user adoption. Many people have formed an emotional bond with the bot and 25 percent have even told her they love her. Tay, the American version, was not embraced so warmly.

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Michael O'Shea of Illinois, who works for an online kitchen-parts company, said he wanted "to learn something about payment design and consumer behaviors. I am curious to see if it's different in China."

Monks attend a Thangka display ritual at the Tashilhunpo Monastery in Xigaze, Southwest China's Tibet autonomous region, July 15, 2019. [Photo/Xinhua]

Miranda Zhai, an analyst with Moody's Investors Service, a global ratings agency, expects bond issuances to increase this year. "Government and corporate bond issuances will soar further and exceed the 9.7 trillion yuan mark seen in 2019. In addition, the central bank is ramping up monetary easing measures to ensure sufficient liquidity in the financial system."

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Ministers pledge to jointly contribute to resolution of regional, international issues

Minister Xu assured political and business leaders that China is sincere about its talks with the US. However, "they must be based on equality and mutual respect, and they must address reasonable concerns raised by the two sides", she said. "We hope the US will meet China halfway and work towards a final solution that is acceptable to both sides."

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Michael Gunner, the chief minister of NT, on Tuesday wrote to Greg Hunt, the federal health minister, asking him to lift the restriction on June 5, 13 days earlier than planned.

Microsoft debuted its Xbox SmartGlass app for Kindle Fire and Kindle Fire HD this morning, giving Xbox 360 users with one of the Amazon tablets a new way to interact with their living room consoles.