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By simplifying the authorization process, the China (Pudong) Intellectual Property Protection Center, which provides quick review, verification and rights protection services for enterprises mainly in high-end equipment and biomedicine fields, has shortened the authorization period for invention patents from three years to around three months, practical patents from eight months to one month, and design patents from six months to one week. The center said that its services will be expanded to cover more industries in the future.

By means of policy incentives, platform construction, and project support, the province is guiding the enterprises to improve their capacity for independent innovation.

By the end of June, all facilities to produce inferior-quality steel bars will be dismantled across the whole country. All coal mines scheduled to close this year will be so by the end of November, as agreed by the attendees of the meeting, which was presided over by Premier Li Keqiang.

By the end of 2018, the Beijingbased bike-sharing pioneer had received more than 10 million online applications for deposit refunds, as the firm faced accusations of stalling on refunds. Till now, it reportedly still owes more than 10 million applicants over 1 billion yuan in refunds.

By contrast, the risks of providing too generous relief are smaller, Powell said. "Even if policy actions ultimately prove to be greater than needed, they will not go to waste."