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Another responder, representing computer and electronic products companies, said, "Tariffs continue to be a strain on the supply chain and the economy overall."

Annual deposit grew 13.1 percent year-on-year to 1.9 trillion yuan in 2017, marking a five-year straight double-digit growth, according to a report released by the Ministry of Housing and Urban-rural Development, the Ministry of Finance and the People's Bank of China.

Ant's hit product Alipay, a digital wallet designed for settling payment on shopping sites of Alibaba Group Holding Ltd, has now extended new functions like lending, credit-scoring and on-demand services that many of its 870 million users globally rely on.

Apart from its role of furthering Shanghai's continued reform and opening-up, the Hongqiao CBD will also facilitate the integrated development of the Yangtze River Delta region. Efforts will be made to create an internationally first-class business environment, said the plan.

Apart from Honeywell, other international conglomerates are also attracted by China's growing market and looking to diversify their development in China.