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In the meantime, foreign visitors to the region have a series of benefits to take advantage of, said Kechichian, referring to the total elimination of value-added tax on such services as hotel accommodations, restaurants and event planning.

In the second half of 2018, 31 Chinese mainland TMT companies chose to list in Hong Kong or overseas, with their proceeds accounting for 94 percent of the total. Two TMT companies were listed on the Small and Medium Enterprises Board in Shenzhen, four on the Main Board, and three on the Growth Enterprises Market Board in Shenzhen, accounting for 2 percent, 2 percent and 1 percent of total proceeds, respectively.

In the past, a farmer could barely manage two hectares of cotton land, but now handling 30 hectares is out of question, he added.

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In the past, China fell behind other countries when issuing 4G and 3G licenses, about three to eight years later than the pioneers.

In the summer, the first official Thomas Town was opened in Southwest China's Chongqing municipality. This indoor railway-theme park covers 100,000 square meters and includes shops, dining areas and preschool study services.

In the meeting, CNTA vice chairman Li Shihong said the tourism industry has become one of the backbone industries in China's economy. Macao should grasp the opportunity with the Chinese mainland and deepen the tourism cooperation to explore the global market.

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In the meantime, rising producer's prices that were expected to moderate in the coming quarters and cooling-down measures in the real estate sector since last year will also drag down the growth rate of fiscal revenue, according to Lou.

In the latest efforts in 2018, central government enabled the sharing of information on marriages registered both in China and abroad, to improve the accuracy verifying people's marital statuses and prevent bigamy.

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In the key construction machinery sector, excavator output surged 70 percent year-on-year in the first half of this year, indicating the sector has entered another replacement cycle after its last peak year in 2011.

In the second quarter, business confidence among Chinese entrepreneurs continued to improve, according to a central bank survey. The entrepreneur confidence index climbed for the ninth straight quarter, rising to 75.8 from 74.2 in the first quarter.