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In 2024, the country's spending on IoT will account for 26.7 percent of global spending in the sector, followed by the United States at 23.8 percent and Western Europe at 23.4 percent.

The spokesperson said the U.S. move "completely ignores the actual situation of relevant companies and the legitimate rights and interests of global investors, and severely undermines normal market rules and order".

Makers of the mystery boxes currently face fierce competition in the market, with the leader -- Pop Mart -- having a market share of only 8.5 percent.

Chinese authorities on Wednesday released the 2020 negative list for market access, which cut the number of items on the list to 123 from 131 in the previous year.

The wholesale prices of China's agricultural products edged up Thursday, according to the Ministry of Agriculture and Rural Affairs.