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China will bolster the capacities of laboratory tests and medical treatment in border areas as part of broader efforts to curb the importation of COVID-19 cases via land entry points, according to a statement released after a meeting chaired by Premier Li Keqiang on Monday.

China should get a lower limit for the manufacturing output-to-GDP ratio in the new five-year plan, in line with international practices like in Germany, as well as build a fiscal and tax policy system that is more friendly toward high-quality development of the manufacturing sector, he said.

China remains a critical region for venture capitalists, according to Forbes. Last year, funding to Chinese firms rose 19 percent to billion, hitting an all-time high, as industries including artificial intelligence (AI), robotics, and internet of things continue to attract investments.

China officially granted licenses for commercial use of 5G on June 6. The nation is set to become the world's largest 5G market by 2025, with 460 million 5G users, a forecast by industry group the Global System for Mobile Communications Association said.

China will be the first place for industrial internet to take off, B?rje Ekholm, president and CEO of Ericsson, said at the Mobile World Congress Shanghai on Thursday, according to thepaper.cn.