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An opening ceremony was held Sunday in the Hangzhou Future Sci-Tech City, with more than 1,000 people in attendance. A total of 11 institutions and companies signed 10 agreements on 5G technology at the ceremony. The agreements included cooperation on developing the digital economy and the building of artificial intelligence (AI) research centers and smart vehicle testing platforms.

Anchor brand dairy products on display during an industry expo in Shanghai. [Photo byWang Zhuangfei/China Daily]

Analysts said government support for entrepreneurship and innovation has provided a major boost for tech firms and startups and allowed them to survive and thrive amid downward pressures on the broader economy. The performance of listed companies is considered a leading indicator of China's economy, which expanded steadily at 6.7 percent year-on-year in the first three quarters, well above the 6.5-percent annual target.

Analysts also see several risks, including a return to a "bifurcated market", according to the FT.

Analysts at UBS expect gold prices to touch ,000 per ounce before the end of the year, driven higher by low US interest rates, a weaker dollar, coronavirus concerns and tension between the United States and China. It also forecast gold price for 2021 end-June at ,900. In the shorter time horizon, it sees a number of uncertainties that will help elevate the prices.