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The country saw the number of impoverished rural residents decline from nearly 100 million in late 2012 to 16.6 million by the end of 2018, the NBS said.

The contracts include construction of a solid waste incineration power plant, highways, urban rail traffic systems and hospitals, the CNCEC said on its website.

The coronavirus has not slowed China's steady deployment of 5G infrastructure. With tens of thousands of 5G base stations built every week in the country, domestic supply chains will be revived, cementing and advancing the country's position as the factory floor of the world, a Bloomberg article concluded.

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The country supports platform enterprises to pursue innovative development and enhance international competitiveness, and supports the joint development of the public and non-public sectors.

The country said in October that it will work harder to promote infrastructure investment, with a focus on areas that can efficiently boost productivity, address weak links and promote high-quality growth.

The country has already surpassed the US as the world's biggest gaming market. Market intelligence provider Newzoo said last year that China's gaming market was worth .3 billion while in the US it was .6 billion.

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The conference will bring the world's most innovative ideas and technologies to Guangzhou, and also attract enterprises, manufacturers and scientific research institutions to invest and settle in the city, according to Shi Pengfei, an official with the Guangzhou science and technology bureau.

The country will actively embrace and accelerate the construction of a new round of new infrastructure such as 5G networks and data centers, it was decided at a recent meeting of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee.

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The conglomerate has already attracted Chinese companies China Merchants Group, Bank of China, Lenovo Group and Geely Automobile Holdings to the industrial park.

The country has rolled out a series of measures, such as cutting social insurance contributions paid by enterprises, to maintain employment stability.