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Apple also is expected to release an iPhone with minor updates to last year's ,000 model and another version made of cheaper materials, including a 6.1-inch LCD screen. Even so, the cheaper iPhone is still expected to sell for 0 to 0. The cheaper phone also is expected to lose the home button. Price cuts for older models, with the home button, are also likely.

Apple is not only killing it in the stock market and in the living room. The company’s top brass also is winning the respect of employees, with Apple CEO Tim Cook recently being named the most respected tech CEO in the country. According to a report by Glassdoor, Cook scored an approval rating of 97 percent among employees.

Around 2,700 reporters are covering the event, and the number of visitors to the week-long exhibition could reach 700,000, the committee said.

Arlt said, "Outbound travel has become part of the lifestyles of many urban Chinese and it will certainly continue to grow in the coming years." He added that only about 10 percent of Chinese have a passport and can afford long-distance travel, "but in 10 years, this proportion will have doubled".

Approximately 15 billion yuan (.3 billion) in costs will be saved by enterprises as China strives to further reduce fees charged on entities and help increase their competitiveness, according to the State Council, China's cabinet.