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China has accelerated its financial opening-up since 2017. Foreign securities, fund and futures firms were allowed to hold a maximum 51 percent stake in joint ventures in China, according to the regulations announced in November 2017. The limit was completely removed on April 1, which would not otherwise have been lifted till 2021.

China has developed 15 communication satellites based on the DFH-4 platform, and the earliest DFH-4 communication satellite has served in orbit for nearly 10 years, said CGWIC.

China has decided to impose visa restrictions on US individuals who have behaved egregiously over Hong Kong-related issues, Foreign Ministry spokesman Zhao Lijian said on Monday.

China designed the sci-tech innovation to leverage financial reforms to boost development of high-tech sectors and advance economic transition.

China has 98 centrally administered SOEs, which manage the bulk of the country's state assets.