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The coronavirus outbreak has accelerated the pace to go digital by Chinese enterprises, with more and more companies embracing the industrial internet as they strive to enhance anti-risk capabilities and retain global competitiveness given the current turmoil in the world economy.

The country's 25 leading excavator makers sold 26,561 digging machines in April, up 84.5 percent year-on-year, compared with a 78.9-percent increase in March, data from the China Construction Machinery Association showed Monday.

The cooperation started in November, when Sheikh Mohammed, who is also ruler of Dubai, learned of the first successful planting of salt-resistant rice in China and invited Yuan's team to help solve the UAE's food shortage problem.

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The country should also strengthen its influence in the international oil and gas price market as the fluctuations in international markets will directly affect the healthy development of the domestic economy, he said.

The country has also been stepping up efforts in small hydropower development. Some 46,500 small hydropower stations had been built in rural areas by the end of last year, with an annual capacity of more than 230 billion kilowatt-hours and a complete standard system on planning, designing, construction and management, according to the Ministry of Water Resources.

The country also has set aside about 10,000 scholarships for countries along the initiative's routes, and reached a broad consensus with those countries in science, culture, tourism and health, aiding people-to-people exchanges, he noted.

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The consultancy said the sales of air conditioners in the domestic market are expected to drop 2 percent to 55.9 million units this year compared with the same period last year.

The country imported 280 million tonnes of coal in the first 10 months, up 9.6 percent year on year. In October, coal imports rose 11.3 percent to hit 25.69 million tonnes.

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The country has also stepped up financial innovation to lift farmers out of poverty, including piloting financial services that combine insurance with futures, which enable farmers to insure against losses from price fluctuations of agricultural products.

The conference's core program InnoSTARS Competition has been going on year round. It screens innovations and takes the winners on road trips in China to directly pitch their ideas to potential Chinese investors.