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Apple's new iPhone 8 (R) and 8 Plus are seen after they go on sale at the Apple Store in Tokyo's Omotesando shopping district, Japan, Sept 22, 2017. [Photo/Agencies]

Around the same time Amazon stopped selling the Fire Phone,?The Wall Street Journal?reported “dozens” of the device’s engineers were laid off. Rumors have swirled around Lab126, the internal research and development group that designed the phone, since its flop in 2014. Amazon reportedly began restructuring Lab126 in January 2015.

As Leung explained, equipment manufacturing as well as research and development are included in the Made in China 2025 strategy. These companies usually invest heavily in their early days in machines, plants and all other related facilities. It will take a long time before they finally register sales and profits. With the new policy, the VAT can be retained, which means that companies can enjoy a tax rebate when they eventually report sales results. It can largely secure their cash flow and relieve this tax burden.

Apple said on Friday that each Chinese customer can only buy at the most two units of each iPhone model from its online store. The restriction applies to the iPhone 11, iPhone 11 Pro, iPhone 11 Pro Max, iPhone XR, iPhone 8 and iPhone 8 Plus.

As Chinese people celebrate the 70th anniversary of the founding of the People's Republic of China and the nation pledges to further reform and open up, UK experts are optimistic that Chinese outbound investment to the United Kingdom should not be impacted, despite the new geopolitical environment of global trade frictions and the rise of unilateralism.