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As a key financial center, Shanghai further opened up its financial sector with a series of new regulations. The total turnover of financial markets in 2019 in Shanghai rose 17.5 percent to 1,933 trillion yuan (about 0 trillion), and the e-commerce gross merchandise volume increased by 14.5 percent.

As a next step, the government will promote the development of new business formats such as financial leasing, cross-border e-commerce, cultural creativity and healthcare within the nation's CBZs, he said.

As for risk control, Meng Zhaoli said AI-backed risk control tools were more powerful and could easily adapt to different application scenarios.

As competition has ramped up, and Amazon steps into the grocery arena, grocers are beefing up their online and logistics operations. Albertsons, for example, this year began rolling out same-day delivery services, a drive-up grocery option and acquired meal kit company Plated. Other retailers are following suit, in addition to turning to the established Instacart to beef up speedy delivery options.

As a major player in China's hydrogen energy industry, SPIC Hydrogen Energy Co, a subsidiary of Beijing-based SPIC, is currently focusing on boosting its innovation ability in several areas, including the production, storage, logistics and application of hydrogen energy, as well as research on and manufacturing of hydrogen energy equipment, hydrogen cells and solutions for automakers.