Both sides applauded the deepening understanding between the two countries in science , technology and innovation, in scope of the One Belt - One Road Initiative.

The Mongolian and Chinese officials have agreed to establish joint technological incubator and technological transmission center, to implement major projects in scientific field and exchange and train young specialists.

On the sidelines of this visit, the Minister held a meeting with the Mayor of Shanghai Yang Xiong and discussed possibilities of cooperation with Shanghai in the cultural sphere. Minister J.Batsuuri also took part in the Pujiang Innovation Forum 2016, and briefed the participants on the current state, future objectives and policy towards the fields of science, technology and innovations.

A parliamentary committee summoned Choi Eun-young as a witness on Tuesday to ask about the firm's business and her role in its failure. Choi headed the company for more than 5 years through 2014.

Choi said she feels responsibility as the chief executive, even though the firm was struggling with the worldwide slump in the shipping industry. She tearfully apologized, getting down on her hands and knees.

She also revealed that she contributed personal wealth of about 9-million dollars in the hope of rebuilding the company.

Port operators in many countries have been refusing port calls by Hanjin's container vessels since it filed for bankruptcy in August. They are afraid they will not receive port and cargo handling fees.

The South Korean government says it hopes to resolve the turmoil by the end of October. But the firm is facing the possibility of huge damage claims over the delayed shipping of cargo. Analysts say the payment of compensation would make Hanjin's rehabilitation more difficult.

Of the 200 companies listed, 139 have seen their brand values grow, and 97 are private businesses. The value of state-owned brands has decreased by about 3 percent on average, while those of private businesses are up by about 20 percent on average.

Last year's champion Tencent fell to fifth position at 210 billion yuan, as its instant messaging service WeChat was counted independently this year. Let us take a look at the top 10 brands in the country.

No 10 Tmall
Brand value: 120 billion yuan, up 26 percent compared with last year

No 9 Agricultural Bank of China
Brand value: 122 billion yuan, up two percent

No 8 Bank of China
Brand value: 129 billion yuan, down 17 percent

No 7 WeChat
Brand value: 132 billion, new on the list

No 6 China Construction Bank
Brand value:155 billion yuan, down 16 percent

No 5 Tencent
Brand value: 210 billion yuan, down 24%

No 4 Industrial and Commercial Bank of China
Brand value: 214 billion yuan, down 6%

No 3 Baidu
Brand value: 218 billion yuan, down 13%

No 2 China Mobile
Brand value: 227 billion yuan, down 16%

No 1 Taobao
Brand value: 230 billion yuan, down 14%

6pm. Coffee/Tea and Registration.

6.30pm. Introduction by Brown Rudnick. Featured speakers are:

Dr Rebecca Empson and Dr. Bumochir Dulam (to be confirmed), University College London, who are leading an EU funded study of the Mongolian economy.

Dr. Troy Sternberg, University of Oxford, who has studied the impact of mining in the Gobi

Ser Od Ichinkhorloo, founder and CEO of the NGO Mongolian Business Database (MBD) and B2B Mongolia (“Bridge of your Business”), who will be leading a business delegation from Mongolia

Chris Guinness, Double Check Translation

Alan Sanders, author of Mongolia – Culture Smart! A guide to Mongolian Culture and Customs, who will speak about the Mongolian elections.

Oliver Reed, Endeavour Fund Mongolia, who is leading a group of ex-servicemen on an expedition to Mongolia in 2017

8pm. Drinks Reception.

If you wish to reserve a place at the seminar, please contact john.grogan@mongolianbritishcc.org.uk

Lenovo Group Ltd confirmed on Tuesday the latest round of layoffs of about 1,000 employees, mostly from the overseas Motorola unit, in a bid to turn around the fortunes of the Chinese company's loss-making smartphone business.

The world's largest personal computer maker, said in a statement that its "structure optimizing" plan impacts less than 1,000 employees, mostly in countries outside China as part of the effort of the "ongoing strategic integration between Lenovo and its Motorola smartphone business".

Lenovo did not reveal the details of the layoff, but a report from droid-life, a website focusing on Android-related news, said Motorola will take most of the hit with over 50 percent of the company's existing US staff losing their jobs.

In response to the market rumors about Lenovo shifting the Motorola headquarters away from Chicago, the company said: "Lenovo is absolutely committed to Chicago and we plan to maintain our Motorola Mobility headquarters there."

The layoffs, which represents less than 2 percent of the Hong Kong-listed Lenovo's 55,000-strong workforce globally, is the latest round after Lenovo bought the Motorola handset business from Google Inc for $2.8 billion in 2014.

Xiang Ligang, a telecom expert and CEO of the industry websitecctime.com, said the move is expected to help Lenovo cut costs and turn around its smartphone business.

"I think it is a good move. Lenovo should have done it earlier. Apart from cutting costs, eliminating some jobs could also help align the organization and improve efficiency," he said.

However, James Yan, research director at Counterpoint Technology Market Research, said cutting costs alone would not be enough for Lenovo to revive its smartphone business.

The first quarter in 2016 saw Lenovo's disappearance from both the top five smartphone vendor ranking and the top 10 mobile phone vendor list as its smartphones sales in China plummeted by 75 percent, statistics from Gartner Inc showed.

"The China market accounts for one-third of the world's total smartphone market, while Lenovo has been losing market share to domestic rivals such as Huawei and oppo," said Yan.

The company has been beefing up to go higher-end to boost its sales.

In June, the company unveiled Phab2 Pro, the world's first smartphone to host argumented reality applications, and the Moto Z modular series, whose high-powered magnets can allow users to upgrade the handset with additional equipment such as speakers and projectors.

Many analysts, including Xiang, are betting big on Levono's new smartphone products, saying the Moto Z modular series are quite innovative.

But Yan expressed his concerns over the brand. "The brand of Motorola in many places is perceived as old and slow. More efforts has to be done to make its shine again among young people," he said.