He noted operating costs and leverage ratios for industrial companies kept falling amid slower growth in industrial profits, while their profitability continued to improve.
He noted that: "When an organization aims to grow and attract more customers, it might ease risk controls and accept the possibility of taking on bad debt and losing money."
He cited spicy hotpot restaurants as an example. Yuen said it is rare to see such restaurants in Hong Kong as spicy food is not popular there, but the eateries are common in Guangzhou thanks to a large and diverse population.
He expressed hope that the oilfield would make new and greater contributions to realization of the "Two Centenary Goals" of national prosperity and the Chinese dream of national rejuvenation.
He is also impressed by the flavors of Chinese ingredients. "For example, in Yunnan province, even the fruit is really nice, and the matsutake mushrooms are amazing - the intensity is like the white truffle," he says.
He expects the government to set a target of around 6.5 percent, but he believes there are still financial risks in the economy and the risk that asset bubbles may burst, particularly in the housing sector.
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He emphasized the summit would focus on the cutting-edge theory and technology of industrial internet and conduct in-depth discussion and exchanges closely around trends and direction, industry and application.
He made the remarks during the Shanghai auto show that concluded last week, where its latest models, the 720S Spider and the 600LT Spider, made their Chinese debuts.
He became mayor of Shenzhen in June 2010 and Party chief of the city in December 2016.
He expects total attendees to number around 450 from 25-30 countries. An average of 40 to 50 Chinese companies usually come to the event every year, Cheung said.