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"Due to a lack of credit history and collateral, micro and small businesses have suffered from a credit crunch due to higher costs, bigger risks and the discrepancy between supply and demand," said Li Dongrong, president of the National Internet Finance Association of China.

"Demanded both by government and enterprises in China, great importance has been attached to blockchain technology's further development and application," Bao said, adding that it provides growing opportunities for closer collaboration between two vibrant blockchain ecosystems.

"Every time I have attended the TAC conference, I have been extremely impressed by the themes you have chosen for your conferences, and this year's theme is indeed no exception, mirroring as it does 70 years of development of the People's Republic of China," he said.

"Developing nighttime urban tourism will also help drive the business growth of restaurants, transportation and shopping areas that are near the sightseeing spots,"Gou said.

"Evidence suggests that buyers from China and Japan saved 16 percent and 27 percent respectively on the purchase price of a city center apartment compared to domestic investors buying in sterling," it said.