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Currently, the banking industry has no limits on shareholding stakes, and the limit will be removed for insurance and securities companies in the future, he said.

Currently, there are at least 17 low-earth orbit constellation programs that consist of over 100 satellites in operation. Unlike geostationary-earth orbit satellites, which are positioned around 36,000 kilometers above earth and mainly used for mobile phones and global positioning system or GPS applications, the low-earth orbit satellites, however, will serve industries with less intensive demand for information.

Currently, Tongfang's smart city solution is applied in more than 100 cities nationwide. In the next step, it plans to strengthen its layout in central and western regions of the country so that residents, especially those from underdeveloped regions, are able to enjoy more convenience.

Currently, construction of a 500 kV transmission line from the border of Turkmenistan to the Afghan city of Andkhoy, and then to Sheberghan, is underway in Afghanistan. Two power lines are under construction from Sheberghan: one is a 220 kV to Mazar-i-Sharif, while the second – a 500 kV to the city of Puli-Khumri and further to Kabul. In addition to the construction of substations along the power line, works to create and expand regional distribution grid along the route are underway.

Customers queue at a Heytea milk tea shop in Wuhan, capital of Hubei province. [Photo provided to China Daily]