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The report stated that the special administrative region government, as the primary funder of universities, is responsible for fostering a culture conducive to knowledge transfer. For example, the government may allocate funding based on an assessment of universities' performance in knowledge transfer.

The regional government said it has invested 4.27 billion yuan (around 0 million) to upgrade the rural water supply system since 2016, including the installation of antifreeze taps and heated reservoirs in villages.

The region's total retail sales of consumer goods registered growth of 6.8 percent, while local fiscal expenditure grew 7.5 percent.

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The relatively less-developed economy in the region also offers developers plenty of room, He said.

The release of the five-year development plan (2016-20) for the financial sector has been delayed by almost two years, due to the restructuring of the nation's top financial regulatory framework and the fast-changing global financial environment, according to one of the officials close to the matter.

The registration application for "HongMeng" has been filed in countries and regions including Canada, Mexico, South Korea, Australia and Europe, Huawei Central reported.

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The regulation also intensifies food safety risk control-including improving risk evaluation for the use of pesticides, fertilizers and feed additives-boosts supervision over imported food and improves food safety standards.

The regulations are aimed at not only protecting students and staff, but also the communities where the schools are located. Those that have in-class instruction, even if on a limited basis, want to avoid moving entirely to online instruction or sending students home, losing millions of dollars in revenue.

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The remaining billion would be injected from Sinopec, China Investment Corp, the state of Alaska and other investors. "It's promising," Qiao said. "If all the parties can try their best to control costs, get all the environmental issues cleared, obtain all the government approvals."

The report said there were 5,010 outbound and domestic M&A deals in the first six months of this year. The total value of those deals was 2.9 billion, down 20 percent compared with the second half of 2016.