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Another positive factor is that with more electric vehicle startups tapping into the Chinese market, traditional manufacturers are facing fiercer competition and increasing their investment on product research and development. Global carmakers are also making efforts to promote the development of electrification.

Ann Patchett

Ant Financial Services Group has raised billion in its latest funding round, as the payment giant continued to drum up its overseas deployment and invest more in technologies.

Another task is to step up reforms for managing State-owned funds and enterprises, to push for the establishment of a company, which is in charge of investing and operating the State-owned capital, as delegated by the State Council. The introduction of regular rules for capital owned by State-owned financial institutions will help accelerate, streamline and centralize the fund management, said Liu.

Anthony Wu Ting-yuk, chairman of BGI's genetic laboratory in Hong Kong, said that the detection of 20 infections had prevented at least 160 cases of infections and cut off six potential chains of transmission.