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In the next stage, he said, more resources will be made available for the growth of services businesses in the country's northeastern, central and western regions.

In the report, Xi said that the CPC will basically realize socialist modernization in the first stage from 2020 to 2035 before developing China into a "great modern socialist country" that is "prosperous, strong, democratic, culturally advanced, harmonious and beautiful" after another 15 years.

In the initial year, the center is expected to train about 1,600 students before scaling up to about 11,000 students annually, according to the company's plan.

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In the past six months, China's trade with the European Union, the United States and ASEAN members increased by 17.4 percent, 21.3 percent and 21.9 percent respectively, altogether accounting for 41.4 percent of China's total import and export value.

In the next 10 years, we need to speed up the building of an elderly care and medical service system and enact suitable laws and regulations.

In the next step, Ning said the recently updated 2018 editions of negative lists on foreign investment and free trade pilot zones will be carried out, while other barriers for foreign investors will be eliminated. A negative list shows areas where investment is prohibited; all other areas are presumed to be open.

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In the meantime, money should be invested in infrastructure projects and public goods that will produce long-term benefits to destination countries because projects can then attract more funds to invest in related local projects, he said.

In the process of his field work, he realized that the only Kenyan company with a presence in China was Kenya Airways in Beijing, even though there were numerous potential business opportunities.

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In the short term, the REITs could mobilize existing infrastructure assets to raise money from the public to fund new infrastructure projects, which lies at the core of promoting economic recovery from the COVID-19 shock, said Zhang Zheng, a professor with Peking University's Guanghua School of Management.

In the industrial and commercial administration sector, the number of cases saw a decrease of 38.3 percent, while pricing and transport registered decreases of 33.4 and 28.9 percent, respectively.