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Yu Yingtao, co-president of Tsinghua Unigroup and CEO of H3C, a Chinese IT company, said the new infrastructure can further empower traditional infrastructure, and push forward the digitalized and intelligent transformation of retail, medical, financial, education, tourism and other industries, while enhancing operational efficiency and reducing costs.

Yinmeng Liu contributed to the story.

Yu Zhanfu, partner and vice-president for China at consultancy Roland Berger, said the progress seen during the 13th Five-Year Plan period (2016-20) includes "more flying hours, a larger aviation network and more investment in infrastructure".

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Young well-educated innovators are taking to the factory floor to find ways to merge tech research with manufacturing

Yu Chengzhong, CEO of Jinyi International Trade which exports fruit and vegetables from China to Kazakhstan, Uzbekistan, Tajikistan and Russia, has reaped the rewards of the new Silk Road. He is known locally as the "fruit king".

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Yin, who stepped down as minister in 2018, had repeatedly stressed that the task be carried out in "small steps". He proposed postponing retirement by only a few months every year till the age was considered "reasonable".

Yu Minhong founded New Oriental, an education giant of English training, in 1993. As a successful businessman and national political adviser, he is also known for his outspokenness and appeals to improve the incomes of rural teachers in underdeveloped areas.

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Yu made the remarks at the opening ceremony of the 51st session of the UNESCAP/WMO Typhoon Committee in Guangdong's provincial capital, Guangzhou, on Tuesday.

Yi Huiman, chairman of the China Securities Regulatory Commission, the top securities regulator, has recently talked of persuading more firms with strong fundamentals to go public on the A-share market. The regulator will also expedite clearing out of listed companies with low development capacities.