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At the initial stage of building 5G networks, telecom carriers will first cover the most populated regions and the 5G network construction can coordinate well with existing 4G networks, the article added.

At the end of last year, trading volumes in Shanghai's financial markets stood at 1,934 trillion yuan (8 trillion), nearly eight times the level a decade ago, according to the CEIBS Lujiazui Institute of International Finance, part of the China Europe International Business School, which is based in Shanghai.

At the event, an official from China's Ministry of Commerce expressed hope that Indonesian businesses will make full use of the platform offered by the CIIE to showcase their products and technology.

At the document-signing ceremony, which was witnessed by the two leaders, the State Grid, China's State-owned energy giant, was granted permission for construction of the second phase of the ultra-high-voltage direct current transmission project of Brazil's Belo Monte hydropower plant.

At the end of the second quarter, the balance of loans granted by banking institutions to micro and small enterprises was 35.63 trillion yuan. Of the total, the balance of loans issued to small businesses with a total credit line of up to 10 million yuan for each borrower was 10.7 trillion yuan, up 26.6 percent year-on-year, according to the China Banking and Insurance Regulatory Commission.