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Authorities must promote reforms to improve the financial supervision system and "keep high pressure on" internal supervision, Li said.

Attractiveness to foreign investment has long been Shanghai's competitive edge, Ying said. Newly established foreign enterprises and foreign investment increased by 21.5 percent and 10.1 percent respectively on an annual basis last year.

BEIJING - "We shouldn't lose sight of the fact that China's GDP is still growing at a 6-percent level, and businessmen look at that as an immense opportunity," said Mike Roman, chairman and chief executive officer of 3M Company at the ongoing New Economy Forum held in Beijing.

Attendees at the meeting, at which Premier Li Keqiang presided, urged a coordinated implementation of policy tools to effectively bring down real interest rates, support the growth of mid-size and small banks, and lower financing costs for businesses with micro and small firms. Furthermore, local governments must fulfill their responsibilities and curb financial risks, attendees said.

BEIJING - Beijing has built 5,285 5G base stations across the city by the end of June, the municipal telecom authorities said Wednesday.