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China always welcomes foreign investors, including US companies, to invest and operate in the country and share development opportunities, ministry spokesman Gao said.

China Unicom, the country's second-largest telecom carrier, said it plans to conduct 5G tests in seven areas, including Beijing, Shanghai, Tianjin and Xiongan.

China aims to create bigger and stronger State-owned enterprises that are capable of competing globally, while phasing out excessive capacity in bloated sectors, according to the country's State-assets regulator.

China Re Hong Kong is the first domestic insurance company approved to be established in Hong Kong since the establishment of the China Banking and Insurance Regulatory Commission. The company will develop the functions of risk management, technology advancement and financing in the scope of life reinsurance, as well as the "Belt and Road Initiative", and the construction of Guangdong-Hong Kong-Macao Greater Bay Area, so as to contribute to the prosperity and development of the insurance industry in Hong Kong and the Chinese mainland.

China aims to build a world-class national cybersecurity industrial park, which will help cultivate a 100 billion yuan ( billion) cybersecurity industry in Beijing by 2020 and help the country better implement the big data strategy, officials said on Tuesday.