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Zhang says he found encouragement from a rival candidate who finally decided not to run but instead chose to support his bid.

Zhao suggested that China can rely on the development of high-tech industries to offset the economic impact brought by the trade friction and seize the opportunities generated by fast-growing industries such as information technology, aviation and artificial intelligence to expand the output value of high-tech industries and maintain a stable GDP growth rate.

Zhejiang province represents a juncture of China's past and future. The birthplace of the Red Boat spirit, the eastern province embodies the country's revolutionary hallmarks of innovation, hard work and dedication.

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Zhao also raised concerns about private Chinese companies' lack of funds and advanced technology, especially compared with foreign entities and the State-owned giants.

Zhang said China should further advance institutional opening-up, and establish more high-level open platforms including pilot free trade zones and free trade ports, and give them greater autonomy to reform.

Zhang's employer, national chain escape room brand Mr X, has opened 18 sites across the country, employing more than 400 full-time staff, including professional actors and directors.

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Zhong Zhengsheng, director of macroeconomic analysis at CEBM Group, a subsidiary of Caixin, said in the Caixin report there were signs of a short-term economic recovery, though downward pressure may remain a long-term challenge. Overall demand and business confidence didn't improve in August, and industrial prices trended down, Zhong said.

Zhou Fangyin, a China foreign policy researcher at the Guangdong Institute for International Strategies, said developing global partnerships is China's peaceful approach to the pursuit of development in the existing international system.

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Zhao Ming, president of Honor, a sub-brand of Chinese telecommunications company Huawei, shows the Honor 20 Pro smartphone during his keynote speech at an event to launch the Honor 20 Series smartphones at Battersea Evolution in London on May 21, 2019. [Photo/AFP]

Zhongwang USA expressed disappointment that the acquisition would not proceed and issued a statement.