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China's domestic semiconductor sector is entering a golden age for development, as the upcoming large-scale rollout of 5G networks and local Chinese tech giants' push to cultivate local chip suppliers combine to inject a new vitality into the industry, experts and business executives said.

China's large number of skilled workers, low labor costs and preferential policies have helped boost its export sector. In 2006, the ratio of China's exports and imports to GDP reached a peak of 64 percent. By 2013, China had become the world's largest exporter and, through expanding foreign trade and related industries, the country's income levels have also risen significantly and people's living standards have greatly improved.

China's first research and testing base for unmanned surface vessels will be put into operation by the end of this year, becoming a public technology service platform for marine equipment between Guangdong province and the neighboring Hong Kong and Macao special administrative regions.

China's first Lei Feng-themed KFC restaurant opens to the public in Changsha, Hunan province, on Sunday. Provided to China Daily

China's fiscal policy remains proactive this year, but is bolder in terms of tax and fee cuts and focuses more on efficiency in the allocation and use of fiscal funds, Liu said in an article posted on the ministry's website Thursday.