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"Competition among global cities lies in both their influence on the world and the opportunities they offer for development. We hope the report sheds light on the governmental plans in technology and talent attraction," said Wang Xueying, associate researcher at the institute.

"China's deployment of renewable energy has enabled Africa to access solar power at affordable cost," he added.

"Cooperative mechanisms can also be established for upstream and downstream enterprises in industrial chains, to ensure the smooth operation of the domestic and foreign companies in China," Wang said.

"China's efforts to promote the development of 5G networks are proceeding as scheduled. Though the ban on ZTE has led to market concern about a severe negative influence on the telecom industry, the real situation turned out better than we had expected," Essence Securities said in a research note.

"Companies that are able to get the benchmark interest rates are few, and in most cases, bond-issuers have to accept banks' buoyancy, which is more than 20 percent. So, the cost of loans may end up higher than direct financing costs."