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Yan Yuejin, director of Shanghai-based E-house China Research and Development Institution, said that sales promotions by major property developers and fresh home supply across the nation may dampen the price growth.

Xu said that it is still necessary for China to have a growth target this year as it is crucial to help stabilize business confidence and anchor market expectations. He said it is reasonable to set the GDP growth target at around 3 percent this year.

Year-on-year expansion of the economy stood at 6.2 percent for the first three quarters, versus 6.3 percent in the first half of the year. Growth of industrial output, fixed-asset investment and retail sales in October all slowed from the previous month, official data showed.

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Yang Xu, an analyst at Beijing-based internet consultancy Analysys, agreed the online food delivery sector had not been Baidu's core business since the second half of last year－as Baidu CEO Robin Li put more emphasis on AI.

Yang Jie, chairman of China Mobile, said that: "The 5G butterfly has already fanned its wings and will have a broader economic and social impact."

Yanchuan, which has a population of 192,000, was one of two impoverished counties that announced the end of their poverty status recently. Of its population, there are 22,135 people who are impoverished.

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Xunshi swears by overseas markets as they have relatively mature dentistry systems. But China is also a strategic priority as domestic demand is rising. So, Xunshi will augment its investments in the China market, Jin said.

Yasuo Fukuda, former prime minister of Japan, said at the ceremony that he was committed to promoting trade between Japan and China and he believes that with the setting up of the clearing bank, "the efforts had been pushed a step further".

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Yan Leyu, research manager from the kitchen appliances department of AVC, said: "Small household appliances with simple-to-use features, low unit prices and small size, showed strong resilience during the pandemic period."

Yao Jiayang, an analyst at market research company TrendForce, said Cambricon has ample room for growth due to its chips, intellectual properties and accelerator cards.