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Thousands of other smaller online shopping businesses are clustered in the city. Two years ago there were 470,000 e-commerce businesses there, one seventh of China's total. Last year, China's online retailers made sales of 588 billion dollars, with 115 billion dollars reported in Zhejiang. In Hangzhou alone, cross-border e-commerce rocketed from less than 20 million dollars in 2014 to 3.5 billion dollars in 2015.

With tens of millions of Chinese still struggling on less than one dollar a day, the 2020 task is, without doubt, daunting.

To fulfil the annual target, local governments were urged to be more resolute in cutting capacity and introducing measures such as accountability systems, public exposure and blacklisting, according to Zhao.

Despite concerns over China's economic slowdown, Xi said at the Business 20 (B20) summit in the eastern city of Hangzhou that China has the confidence and ability to maintain medium-high rate of growth and deliver more development opportunities to the world while ensuring its own development.

The two sides held the 19th ASEAN-China Summit and commemorated the 25th anniversary of ASEAN-China dialogue relations in the Lao capital. In a chairman's statement issued at the summit, the two sides underlined the importance of maintaining peace, stability, security and freedom of navigation in, and overflight above, the South China Sea.