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An official with the preparatory committee said they might welcome hi-tech industries such as 5G communications, bio-medicine, artificial intelligence and internet finance industries.

Analysts say there are hopes a visit to the United States beginning Tuesday by a high-ranking Chinese official will ease trade tensions and maintain steady bilateral ties.

Analysts with Haitong Securities said in a research note on Thursday that pushing the financial sector to sacrifice profits is an inevitable choice for the government to help smaller business survive a difficult period given the limited room for further monetary easing.

And Cranfield University and Harbin Engineering University will explore potential synergies in the installation and operation of different off shore energy facilities, with the aim of lowering overall costs.

Andrey Denisov, Russian ambassador to China, said China "has attached great importance" to the institution-building of CICA, and its efforts include promoting semiofficial or nongovernmental dialogue.