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And more than 700 US companies applied to be in the summit's core program, the InnoSTARS Competition, which also takes place in Chicago, Denver, Atlanta, San Francisco, Boston, Seattle and Miami.

Analysts believe the presumption is possibly based on Guangdong-headquartered Chinese technology giant Tencent's recent acquisition of a 5 percent stake in Tesla as well as China's growing demand for new energy cars.

Anil Sooklal, deputy director-general for Asia and the Middle East at South Africa's Department of International Relations and Cooperation, said China is positive about his country and will bring billions of dollars of investment during President Xi Jinping's state visit to the country this week.

Andrew McAfee, best-selling author and co-founder of the Massachusetts Institute of Technology's Initiative on the Digital Economy, said developments in data, algorithms, networks, cloud, and digital hardware have unleashed a wave of innovation that is "rewriting the business playbook" at the Intel Shift 2017 event in New York on Tuesday. Paul Welitzkin/China Daily

An undated photo shows an elderly woman dining at a nursing home in Hangzhou. [Photo by Sun Yidou/Provided to China Daily]