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During the meeting, ministers exchanged views on concrete initiatives that APEC can undertake in response to the impact of the COVID-19 pandemic and charting the path for economic recovery in the region.

During his first investor conference call since his arrest in the United States on Tuesday, Liu said he would shift his focus to concentrate on strategy, team and culture and new businesses, letting his subordinates handle mature businesses.

During his trip to China in March, the 51-year-old CEO visited Beijing Bytedance Technology, the world's highest valued tech startup and the operator of popular short video platform Douyin, to check out the company's latest offerings, which have been well received by domestic and global consumers.

During the past five year, the high-tech industry witnessed rapid growth, and new service companies accounted for nearly 80 percent of registrations. Private businesses became the biggest employer, creating 40 percent of new urban jobs.

During the events, Guangzhou set up overseas offices in cities and regions that are leaders in science, technology and innovation, such as the Silicon Valley, Boston in the United States and Israel's Tel Aviv.