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The municipal government said it strives to prioritize the development of key sectors and key companies, by introducing subsidiaries of leading technology powerhouses like Tencent, AI unicorn SenseTime and fabless semiconductor company Unisoc.

The most important element of consumption stimulation is to retain job security, especially the task of helping low-income earners find and keep jobs. This will ensure not only their incomes, but also the willingness to consume, because low-income earners are likely to spend 80 percent of additional income, said Li Hongbin, a senior fellow at the Stanford Institute for Economic Policy Research.

The nation will have a rental housing market of 5.4 billion square meters with annual rental income of some 4 trillion yuan (1.7 billion) by 2027, according to a new research note on the rental housing market.

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The move will allow frontline police officers to recognize journalists more efficiently during their operations, and that will permit on-the-scene journalists to perform their duties at closer and more favorable locations, Kwok said in a letter to the city’s four major media associations.

The model is able to connect China's competitive production capacity and developed countries' advanced technology with the third-party's vast development demand, said Loletta Chow, global leader of EY China Overseas Investment Network and B&R Task Force leader.

The museum is working with the Shanghai Free Trade Zone and e-commerce giant Alibaba to build a platform to design, produce and sell creative souvenirs globally.

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The monetary policy will remain stable, though it can be slightly adjusted according to changes in economic growth and price levels, to prevent the spread of inflation expectations, the central bank said.

The museum will also feature intelligent venues that allow audiences to access information and enjoy personalized visiting experiences online and offline, as well as offer astronomy courses, observation activities and an astronomy enthusiast club following its opening.

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The move aims to keep liquidity in the banking system at a reasonably sufficient level, the central bank said.

The move followed public outcry last month over commercials printed on the red scarves worn by third-graders in Danyanglu Primary School in Heze, Shandong province, which the circular said has led to "serious consequences".