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The central authorities can use many kinds of performance reviews to evaluate local governments, putting pollution control as part of their performance review. The Communist Party of China (CPC) has a special supervisory team to determine if local governments seriously implemented the central authorities' policies, including environmental policy. This is really serious for local leaders, she said.

The central bank and State Administration of Foreign Exchange will study the possibilities of expanding the scale of qualified domestic and qualified foreign limited partners. Regulators will also explore management modes for cross-border investment and financing of private equities. With those moves, Shanghai could become a major international market for asset management, Pan said.

The central bank will control the issuance quota of the digital RMB, working out unified technical, security and application standards. In addition, it will manage digital RMB wallets, which allow users to deposit money into an account stored on their electronic devices.

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The city has reported no new locally-transmitted cases for nearly three months as of the latest figures released by the local health commission on Wednesday.

The change from "pilot area" to "pilot demonstration area" indicates that Shenzhen has been given higher objective, positioning and responsibility, said Tan Gang, vice-president of the Shenzhen Party School.

The central bank also announced an additional reduction of 100 basis points in the RRR for city commercial banks operating only in provincial administrative areas, which will be implemented in two phases, on Oct 15 and Nov 15, cutting 50 basis points in each phase.

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The city has been committed to innovation. It has invested around six percent of its GDP into research and development (R&D) per year over the past five years.

The central authorities have invested more than 3 billion yuan (4.66 million) on research and development of renewable energy technologies during the 12th and 13th Five-Year Plan (2011-20) periods, data from the National Energy Administration and the Ministry of Science and Technology showed.

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The central bank launched a swap last month that allowed primary dealers in an open-market operation to exchange perpetual bonds for central bank bills, which Pan said could increase the liquidity of perpetual bonds but not quantitative easing.

The chamber said container availability is dwindling sharply at major European ports like Hamburg, Rotterdam and Antwerp. This is causing shipment problems for exporters from China and Europe, it said.