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"Having reviewed the trading performance of our business in China and the substantial investment required to continue operations in the market, we have made the difficult decision to exit our stores in China," said New Look Executive Chairman Alistair McGeorge.

"Google has already got the monopolistic position, has invested billions in infrastructure, AI, technologies, software, engineering and talent. You can't simply unwind a decade of significant progress, or create new alternative powerhouses or tech ecosystems out of thin air."

"Good road conditions benefit several generations," Niu said.

"Fiscal policy must contribute to achieving these goals through a progressive and efficient taxation system, and effective and equitable public spending," the report said.

"For example, we'll be running a workshop for the alumni on how they can be more enterprising," he says.