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China will build the industrial cooperation demonstration park within Kizad to boost practical cooperation within the framework of the Belt and Road Initiative.

China very quickly gave tax incentives and support to companies with supply chains and manufacturing operations in the country to reassure them of their investments, Lynch said.

China should harness opportunities arising from the development of artificial intelligence technologies, the core driving force for a new round of industrial revolution, to achieve intelligent manufacturing and high-quality growth, government officials and business leaders said at the ongoing Second World Intelligence Congress in Tianjin on Wednesday.

China needs to expand the opening-up of the financial industry to pursue high-level economic opening-up, said Lu Lei, deputy head of the State Administration of Foreign Exchange. Expanded opening-up can also help ease the negative effects of China-US frictions and anti-globalization sentiment in some countries.

China should set up a cybersecurity protection system for new infrastructure, formulate a national 5G security strategy as soon as possible, and accelerate steps to ensure the security of industrial internet, said Zhou Hongyi, chairman and CEO of 360 Security Group.