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"Concrete steps have also been taken in the past two years to implement the strategy, with significant progress in core technologies and overall manufacturing quality," Miao said.

"China will enter a new developmental phase and will use new ideas to create new opportunities that can further facilitate a more open dual circulation," he said.

"Chinese enterprises are looking at the technologies available－whether it's artificial intelligence, big data or the like－to actually come up with whole-new business models and whole-new approaches to doing things, not just improving the old processes."

"China welcomes both domestic and global companies to actively participate in the exhibition and sign more deals," Gao said at a regular news briefing.

"Currently, Chinese clients are mainly from infrastructure and extractive industry, and other industries like financial services, high-tech and telecommunications will also become our target clients in the future," said van de Pijpekamp.