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The committee will have its office based at the People's Bank of China (PBOC), the official told Xinhua while declining to be identified.

The company also plans to more than double its natural gas production by 2025 to make up 30 percent of its total oil and gas output from 19 percent now.

The commercialization of 5G will be beneficial to both consumers and enterprises. Because internet of things, which is based on 5G, is one of the several channel innovations in the process of digital transformation, Fu said.

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The company finished its series-C round of funding from Suning, Sequoia Capital and Tianxing Capital in 2016. It has launched an overseas version of the app named All Football.

The company founded eight overseas cooperative manufacturing plants and in 11 countries and regions it built 16 central fitting warehouses with partners.

The committee said that some 2,200 representatives from more than 30 countries and regions will participate.

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The company has seen a jump in its top line revenue in 2017, since transitioning from a traditional to online learning model in 2014. Li said the growth rate increased by 220 percent between 2016 and 2017.

The committee said it will continue to address inconsistencies in the the trade and construction of houses, and will work toward achieving a stable real estate market, the statement said.

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The company entered the Chinese market 120 years ago. It has participated in China's transportation infrastructure growth by providing key components to high-speed trains and urban rail transit systems nationwide.

The company has also launched its first AI speaker, which offers two voices for children and elderly people. It has introduced voiceprint technology to allow child users to wake up the speaker, ensuring that the speaker will not offer harmful messages to children.