Also making headlines was news that China's first smart factory for manufacturing offshore oil and gas equipment, which boasts a complete lineup of intelligent technologies, began operations at the CNOOC Offshore Oil Engineering late last month.

Covering 575,000 square meters, the factory makes extensive use of 5G, industrial big data and artificial intelligence, said Yu Yi, the company's president.

In addition, hefty investments totaling 80 billion yuan ($11.9 billion) were earmarked for Tianjin late last month at the WIC, despite the ongoing COVID-19 epidemic.

Among the investors, China Chengtong Holdings Group announced that it would pour 10 billion yuan into high-tech zone in Tianjin's Binhai New Area to develop new energy batteries.

"The city's dynamic growth and regional advantage make it an ideal investment destination," said Tong Laiming, the company's vice-president.