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Chinese online discount retailer Vipshop Holdings Ltd announced a strategic cooperation with London Fashion Week on Thursday, one of the highest profile fashion events in the world to boost the upgrades of the fashion industry.

Chinese dairy major players have enhanced their market presence by focusing on innovation, with China Mengniu Dairy and Inner Mongolia Yili Industrial Group Co Ltd exceeding market expectations in their half-year report of 2017.

Chinese businesses also took the opportunity during Xi's visit to expand cooperation with Finnish companies in renewable energy, as Beijing works to boost green development.

Chinese insurers with rule-breaking and dishonorable records will face stricter market access as the country's top insurance regulator intensified crackdown in cooperation with other government agencies on Wednesday.

Chinese leaders said "science and technology constitute a primary productive force" as early as 1988 and aimed to build an "innovative country" in 2006. In recent years, President Xi Jinping has emphasized many times "innovation is the primary engine of development" and set "innovation-driven" as a strategic plan for the country's development.