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Chien believes such transition will leave large sustainable corporations like Lanxess in a favorable position.

Chen added the move is of great importance to the further development of the Chinese organic light emitting diode industry and the global flexible display industry. BOE has another sixth-generation flexible AMOLED line in Mianyang, Sichuan province, that is expected to start production in 2019.

Chen added that the size of Black Friday, as a cross-border shopping carnival, is smaller compared with China's homegrown online shopping festival Singles Day.

China Advanced Semiconductor Industry Innovation Alliance was founded in 2015 with more than 70 member companies joining and a joint innovation incubator center, which has attracted 45 companies.

Chen said the central bank will lead Chinese financial institutions to play their original role in supporting the real economy and beefing up the high-end manufacturing and the "weak links" in the economy, while boosting direct financing and cutting funding costs.