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Another report released by the National Institution for Finance and Development in September said regulators should create rules for the consumer finance business conducted by different types of entities, with the adoption of unified standards to prevent unfair competition.

Apart from the mature market abroad, CIMC Enric also expects the acquisition to help the company strengthen its position in the growing Chinese market, as CIMC Enric believes the growth pace of craft beer in China will remain at 40 percent each year, although currently the business only occupies 1 percent of the domestic market.

Apart from strategic cooperation with Sogou, Haier will reach partnership deals with the Chinese Academy of Sciences, LingLong Co (a joint venture of e-commerce giant JD and leading Chinese AI company iFlytek) and Mobvoi Inc, a Chinese AI startup backed by Google Inc in the field of AI and smart home.

Another tech firm the ministry signed up is ByteDance. The company's apps can notify users close to where people go missing and help collect clues of their whereabouts.

Another priority is to consolidate the outcomes from poverty alleviation efforts and to prevent people from once again falling below the poverty line, he said.