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As young entrepreneurs create a bustling, innovative atmosphere, the Guangdong government has stepped up efforts to improve basic research capability, considered the backbone of an international innovation and technology hub, by building large scientific installations and launching provincial labs.

As we speak, China's manufacturing sector is basically open. It is gradually lifting restrictions on access to the modern services sector. And it is opening up the financial sector with accelerated pace and at a higher level. Going forward, China will continue to quicken its steps to increase market access for foreign investment. Take for example foreign ownership caps in joint venture firms in sectors such as securities, future and life insurance. China has brought forward the deadline for lifting the caps from 2021 to 2020. At the same time, China has also cut short the 2019 edition of the negative list on foreign investment, reducing the 48 items on the list to 40.

As the country enters the mid to late period of industrialization, the manufacturing sector is expected to account for a smaller proportion in China’s overall GDP, but this does not mean it will be less important, said Miao.

As “Shark Tank” investor Kevin O’Leary said at the time of the Amazon deal, it was “probably the biggest miss” in the show’s history.

As the highest-level and most comprehensive exhibition held by the two countries, the three-day expo kicked off on Tuesday, with the theme of "new beginning, new opportunities and new future."