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Construction will help the city upgrade its traditional petrochemical industry, Xu added. Maoming will give priority to building a hydrogen energy industry chain in the Guangdong-Hong Kong-Macao Greater Bay Area. It will increase its presence in Southeast Asia and the world market in the years ahead.

Consumer confidence has continued to boom with increasing Consumer Confidence Index and stronger consumption ability of urban depositors, the article said. Consumers showed strong willingness to spend in February with the Consumer Confidence Index reaching 124 points, the highest level since October 1993.

Construction Bank reported on Wednesday an end-2016 nonperforming loan ratio of 1.52 percent, down from 1.56 percent in September and 1.63 percent in June, according to exchange filings. Agricultural Bank's level slipped to 2.37 percent by December from 2.39 percent three months earlier, while ICBC was unchanged at 1.62 percent.

Cooperation and collaboration in infrastructure is "a true win-win" that could "change the current US narrative which is China is stealing our jobs to a new narrative which is China is helping create jobs in the US," he said.

Consumers experience new 5G handsets at a Huawei specialty store in Shanghai on Nov 28. Still struggling with the shortage of key 5G components, Huawei is striving to increase sales of its products other than smartphones. [Photo by CHEN YUYU/FOR CHINA DAILY]