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China will increase assistance to other developing countries, especially the least developed countries, and do its part to reduce the North-South development gap. China will support multilateral trade regimes and work to facilitate the establishment of free trade areas and build an open world economy.

China will enhance enterprises' innovation capacity and strengthen the dominant role of enterprises in innovation.

China's central bank, the People's Bank of China, received the first application from a foreign payment company to enter the country's booming third-party payment industry on Wednesday.

China's Huawei Technologies, for example, will display 5G empowerment in sectors such as port and mine management, iron and steel production and power generation, said Yang Jun, deputy director of the provincial science and technology department.

China's Foreign Investment Law, adopted in March, is a positive step forward, Collins said, adding that the company has been encouraged by it. "We are working to understand the law and make sure we are able to follow all of the elements in it."