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Lin Xinqi, researcher and professor with Renmin University of China, said increasing living costs in bigger cities and more opportunities in smaller cities or countryside are attracting young people.

Lingang Special Area was launched on Aug 20, with an initial area of 119.5 square kilometers. The municipal government of Shanghai announced 50 measures for Lingang on Aug 30, covering eight major areas of relaxed regional administrative authority, talents, fiscal and finance, land use, industrial development, housing, transportation and infrastructure. A development fund valued at more than 100 billion yuan will be launched within the year to support the strategic industries in the area.

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Listed in both Shanghai and Hong Kong, it is China's first national joint-stock commercial bank initiated and founded mainly by non-State-owned enterprises.

Liu Zhiye, vice-president of Luye Life Sciences Group, said the guideline's emphasis on health promotion and disease prevention, not just disease treatment, will help people stay healthy and ultimately reduce medical expenditures, especially those on drugs and disease care.

Liu Qiangdong, chairman and CEO of JD, said: "We will continue to prioritize technology innovation to empower our partners with enhanced capabilities and improved efficiency."

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Lin expressed his hope of introducing the art of Chinese kung fu to local people. "Martial arts is not just sparring, on the contrary, it's more about internal disciplines."

Lin's remarks came as China positioned the Belt and Road Initiative as one that can inject vitality into the world's economy through several big-ticket infrastructure projects around the globe.

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Linda Fischetti, manager of the Children's Discovery Museum of San Jose that was hosting the two groups the next day, said the nice part was to "see all the organizations coming together" to celebrate cultural diversity.

Liquidity was at a "relatively high level" after increased fiscal spending at the end of the year offset the effect of matured reverse repos, the People's Bank of China (PBOC) said in a statement.