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Apart from East China where the sector is flourishing, Southwest China's Sichuan and Guizhou provinces and Chongqing municipality are expected to be front-runners for new growth, according to the report.

Apart from the abovementioned places, China's 15 new first-tier cities also include Chongqing in Southwest China, Wuhan in Central China's Hubei province, Tianjin in North China, Suzhou and Nanjing in East China's Jiangsu province, Dongguan and Foshan in South China's Guangdong province, Shenyang in Northeast China's Liaoning province, Qingdao in East China's Shandong province, and Hefei in East China's Anhui province.

Any attempt to pressure China or undermine China's sovereignty, security and development interests will not succeed, Wang added.

Another reason is the rise in third- and fourth-tier cities may depend on an increase in hidden local debt. In this round of the real estate cycle, housing prices continued to increase for a long time with a huge overall rise. Decrease of housing prices in more third- and fourth-tier Chinese cities indicates the end of the boom in the property sector, which started at the end of 2015.

Another Chinese company, Poly-GCL Petroleum Group Holdings Limited (Poly-GCL), last week also signed an agreement with the Ethiopia Ministry of Mines and Petroleum (MoMP) to construct the 767-km Ethiopia-Djibouti natural gas pipeline.