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The company has successfully reallocated employees from non-core to core business without unrest in society or the company.

The collective income of the village rose from 30,000 yuan in 1997 to 1.2 million yuan (3,000) last year, the local government said.

The company has sold more than 5,000 photovoltaic air conditioners in 22 countries and regions in the Middle East, North America and Southeast Asia, Wu said.

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The company bought the Customs insurance on Tuesday helping it save capital costs and boosting the efficiency of imports, Wang said.

The closed-door consultation started at 10 am local time (0100 GMT) in the Freedom House, a building controlled by the ROK in the border village of Panmunjom inside the Demilitarized Zone (DMZ).

The code will compliment guidelines issued in August, which laid out rules restricting investment in sensitive areas such as property, sports and entertainment, the official said.

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The commission is also stepping up the pace of revising a regulation on insurance guarantee fund. For example, CIRC may implement an immediate liquidity arrangement system for insurers.

The comments came as China's big three telecom carriers are all starting large-scale 5G trials and application tests. The state-of-the-art technology is expected to be 10 times faster than 4G and will support superfast movie downloads, self-driving cars and the streaming of virtual reality games.

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The commencement of the Hong Kong Section of the Guangzhou-Shenzhen-Hong Kong High Speed Raillink (XRL) in September will bring passengers a new cross-boundary railway connection to the Chinese mainland with customer-oriented services.

The comments came after the US government said on Wednesday that it will adopt an enhanced national security review process to deter Chinese acquisitions of "sensitive" US technologies, a softer way than levying specific restrictions on investments from China.