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Artificial intelligence will play an important part in China's supply-side reform as the cutting-edge technology is expected to reshape various sectors such as retail, manufacturing and healthcare, top company executives said Monday at a forum of the fourth World Internet Conference.

Apple, also a contender for the most valuable company, went down to 701.99 billion dollars in market value. Its stock price hit 52-week low last week after the company issued lower guidance for the fiscal 2019 first quarter.

Apple said revenue from the iPhone declined 15 percent from the year-ago period. In China, Apple reported revenue of .1 billion, down sharply from .9 billion last year.

Apple, which is becoming increasingly competitive with Amazon, remains the largest tech company on the planet with a market value of 4 billion.

Around 13,400 people were relocated last year, said Wu Bing, Nanping's deputy mayor.