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Chinese corporate behemoths Alibaba Group Holding Ltd, Tencent Holdings Ltd and Baidu Inc will set up branches in China's Xiongan New Area.

Chinese authorities have pledged to rigorously control risks in local government bonds and implicit debt while using bond issuance to finance infrastructure projects and improve weak areas.

Chinese market regulators on Wednesday called for increased third-party intervention in car sales disputes.

Chinese companies Alibaba Group Holding Ltd and Tencent Holdings Ltd are also working hard to build more overseas availability zones to compete with global giants including Amazon.com Inc and Microsoft Corp.

Chinese internet companies are at a point when they must go global, and the Belt and Road Initiative has pointed to the right direction and created a conducive external environment, said Li.