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Apart from the Bay Area, the province has granted full support to Shenzhen, one of China's first special economic zones, to build a pilot demonstration zone of socialism with Chinese characteristics. Meanwhile, the province will further boost the vitality of the provincial capital of Guangzhou, according to officials.

Apart from BOE, Shenzhen China Star Optoelectronics Technology Co Ltd, or CSOT, has started work on a sixth generation LTPS-AMOLED display panel production line in Wuhan, Hubei province.

Another trend the report pointed out: China's internet market is very influential in terms of scale and impact as a considerable number of internet giants, start ups and unicorns－new, non-listed companies with valuations of more than billion－are competing with world magnates in the field.

Apart from requiring banking institutions to comprehensively enhance the quality of data, the regulator also said "banks should integrate data application into the entire process of their business operations, risk management and internal control to effectively capture risks, optimize business procedures, and improve the effectiveness of internal control.”

Another expectation he has for future Sino-Europe cooperation is to see more European companies present on China's e-commerce markets.