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The group will have then positioned itself to supply major infra structure projects in the UK, according to Bovis, such as those attached to the government's Northern Powerhouse development plan.

The guideline supports Shenzhen's implementation of a more open and convenient system for the introduction and entry and exit of overseas talents, Qu said.

The group is expected to reach a cumulative cargo growth of 500 million tons in 2018 and 2019, according to the company.

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The high-tech manufacturing and service sectors attracted 37.39 billion yuan and 70.31 billion yuan of foreign investment, respectively, between January and July, up 8.3 percent and 16.8 percent year-on-year.

The group, known as Chun Wo Development Holdings at its founding in 1968, has been involved in the construction business in the private sector right from the start. It later took the plunge into various types of architecture for the government, as well as private developers.

The guideline laid out a timeline for the city's development -- by 2025, it will become a leading city globally in terms of economic strength and quality of development; by 2035, not only will it become a national model of high-quality development, but also a hub of innovation, entrepreneurship and creativity with international influence.

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The guideline could form the legal foundation for the country's STAR Market, known informally as the science and technology innovation board, which was launched at the Shanghai Stock Exchange on June 13. [Photo/IC]

The greatest difficulty in the sector lies in the mass production of new energy vehicles, according to Zhang Yongwei, deputy director of the enterprise research institute under the Development Research Center of the State Council.

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The group has since been seeking solutions to save itself. Its outstanding debt amounted to 706.7 billion yuan as of the first half of 2019.

The green coverage rate in rural areas has reached 20 percent, while in urban areas it has hit 37.9 percent.