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The central government is looking to PPP, a collaborative investment model between government and private companies, as a way to fund infrastructure projects amid concerns over high local government debt.

The city looks poised to maintain its position as a hotbed of foreign investment with 12 major foreign-funded projects scheduled to get underway in the coming years.

The city was told on Aug 30 by environmental inspectors from the central government that some dead pigs had been illegally buried in Santianmen village. The inspectors had been evaluating Zhejiang province since Aug 11 and received reports about the pigs from members of the public.

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The central leading groups for deepening overall reform, cyberspace affairs, financial and economic affairs and foreign affairs were upgraded into central committees. Meanwhile, two new central committees for comprehensive law-based governance and auditing were formed. The arrangements have enhanced the Party's leadership over major works as well as its decision-making and coordination abilities.

The city of Philadelphia. (Flickr Photo / Dave Rosenblum)

The city's export of mobile phones went up 57 percent, and its export of textile and clothing increased nearly three-fold in the period.

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The city has also nurtured the most unicorns outside of Silicon Valley and generated many global tech companies such as Baidu, Xiaomi and Sina, and is home to some of China's best universities and top talent, according to JLL.

The central bank has to balance between possible rising asset prices - as a result of further monetary easing, and the effect of a weaker yuan on exports, as a cheaper yuan could help exporters offset the impact of higher tariffs, said economists.

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The central bank also provides suggestions to such financial institutions on how to address their risks; it may suggest those institutions increase capital, reduce bad assets, lower leverage ratio, replace management or improve corporate governance, according to the report.

The city restarted its service for trains arriving in its 17 railway stations on Saturday, while departure service will not open until April 8 when the city's lockdown will be lifted, the local railway bureau said.