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Companies that supply the chip sector with sophisticated and expensive equipment plan to warn the Trump administration against a proposal to blacklist China's top chipmaker Semiconductor Manufacturing International Corporation, arguing it would be "detrimental" to US industry.

Compared to developed countries, relatively low industrial concentration forced Chinese companies to enhance technological innovation speed, Zhang said. Statistics of production capacity in steel industry indicate that the industrial concentration of top 4 large enterprises in the United States and Japan is above 70 percent; while the industrial concentration of top 10 Chinese enterprises is less than 40 percent.

Committee member Lyu Wei proposed promoting green development into the aim of formulating this law, saying the bill should assist rational, scientific and intensive development and utilization of resources.

Compared to their western peers, China's Generation Z spend more on clothing and technological products including mobile phones and media subscriptions, said Wang Chong, a partner with OC&C.

Company officials said they also planned to export cement to India, China and other countries by increasing the factory's capacity to 12,000 tons a day after a few years.