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Several major transportation businesses, including Boeing, Airbus and Uber, are conducting test flights of all-electric flying machines that promise to revolutionize urban travel through ride-sharing air taxi services.

Shantou also attaches great importance to a favorable business environment. It came up with the idea of "response within 24 hours" in 1987, meaning that administrative bodies must respond for business inquiries within a day.

Shanghai has pioneered China's opening-up of the financial sector. In November last year, German insurer Allianz was approved by the China Banking and Insurance Regulatory Commission to set up the country's first foreign-controlled insurance company in Shanghai.

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She added that the bank also had strict credit requirements for sovereign loans, making sure the terms on these loans are in line with those required by the International Monetary Fund.

Shada Islam, head of the New Horizons Project, a Brussels-based global strategy and advisory firm, said that in language, style and format, this was an important EU-China meeting showing that despite their well-known differences, Beijing and Brussels are determined to keep the channels of communication open and to make the case for multilateralism and international cooperation in the face of a worrying global economic slowdown.

Shanghai-based Chinese budget carrier Spring Airlines has established three strategic bases since 2017. They are the airports in Yangzhou, Jiangsu province, Ningbo, Zhejiang province, and Shantou, Guangdong province, in addition to its main hub airports in Shanghai. Without much competition from major State-owned airlines, Spring has achieved significant room for growth of launching more flights.

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Shanghai's advantage also lies in its function as a core city in the affluent Yangtze River Delta region and that a rising number of its younger generation who once studied or lived abroad would like to have the kind of healthcare services that they experienced overseas, Loo said.

Shanghai Disney Resort announced on Wednesday it has partnered with a third-party social enterprise to offer sign language interpretation services.

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Sharing a yearning for perfection and a spirit of craftsmanship, the bespoke business is soaring in China. From big enterprises to small workshops, the sector makes suits, footwear and accessories to the high standards of haute couture.

Shares in the banking, insurance and liquor sectors led the gains.