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"China's industrial internet sector is entering the fast lane. A slew of new breakthroughs, new models and new applications have emerged," Sui Jing, deputy head of information and telecommunications at the Ministry of Industry and Information Technology, said at the 2020 World Industrial Internet Conference which opened on Sunday in Qingdao, Shandong province.

"Cross-border financial services are crucial to outbound Chinese companies and overseas companies tapping into China," said Lam Chi Man, CEO of BEA China. "CIIE will be the best chance for overseas banks and financial institutions to showcase their latest achievements in this regard."

"China's retail sales returned to growth for the first time since the coronavirus outbreak, in the latest sign that consumer spending was catching up with the country's wider economic recovery," the Financial Times said.

"China's semiconductor display industry has taken large steps forward in the past decade, changing the display industry's global competitive landscape. China has transformed into the world's largest consumer market and manufacturing base for display terminals, with huge market potential," said BOE Vice-President Zhang Yu.

"China's wide-ranging know-how and experience when it comes to the construction of hydroelectric plants is second to none given the nation had already installed 313 gW by the end of 2017," said Joseph Jacobelli, a senior analyst of Asian utilities at Bloomberg.