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"Fujian's continuous efforts in infrastructure and policy have played an important role in incubating businesses in both traditional and emerging sectors," Zhong said.

"Following extensive and fruitful work, we are entering into a partnership with the Gao family and I am excited about what we will achieve together," she said. "Today is the start of a new and exciting chapter for our club. Mr Jisheng Gao and his daughter, Mrs Nelly Gao, with whom I have built a close relationship, share our values and ambitions. As a team, we will strive to build upon the strong foundation that is in place toward sustain-able long-term success."

"Four decades of reform and opening-up have shown that, on the basis of certain developments, only opening up can invigorate the market, force companies to innovate and integrate Chinese and international resources," the commission said.

"Growing uncertainties in global business settings, increased prudence by companies making investment decisions overseas, and tightened compliance reviews by regulators on overseas investments are the reason for the drop," said Gao Feng, a spokesman for the Ministry of Commerce.

"For local companies that need end-to-end solutions, we will help them to integrate their technologies and terminal manufacturing devices into our platform through the innovation center. We will also help small and medium-sized enterprises registered at the China-Belarus Industrial Park to launch operations as quickly as possible," Pan said.