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Chu Junwei, deputy Party secretary of Fengtai district, said at a form during the CIFTIS, that Lize will be transformed into a digital finance center by providing a plethora of fintech services. "About 70 percent of the companies in Lize are engaged in businesses dealing with the finance industry," he said.

Cloud companies smell money.

Chinese telecom companies are seeking to maintain their lead in the global race for 5G commercialization.

Chinese travelers are spending 28 percent of their income on average on international travel, with the millennials (those born in the 1990s) being the biggest spenders, allocating 35 percent of their income to travel, according to an industry survey.

Chongqing is almost as big as Austria and has long been an industrial hub, where the Yangtze River Economic Zone and, more recently, the Belt and Road Initiative have boosted economic development.