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And the Chinese government is committed to shoring up its EV sector. Subsidies for manufacturers that were introduced in 2009 have come to an end, but the government is focused on building a strong nationwide network to charge vehicles throughout the country's cities and highways, according to China's Ministry of Finance. Such a network is key to speeding up demand for EVs.

Analysts said as the country's largest oil and gas company, CNPC has been stepping up its equivalent overseas equity production of oil and gas in recent years to meet the surging demand for oil and gas.

Analysts said the meeting signaled an important policy direction by showing that the government is shunning stimulation through boosting the property market, which is the right way to deal with economic weakening.

And he noted that Southeast Asian companies, in particular those with a vast pool of Chinese business links and information, would find the opportunities created by the Bay Area attractive and potentially rewarding.

Ancha underlined the importance of "pandemic-resilient" agriculture. Initiatives such as village revolving funds and payments for ecosystem services can be used to promote more environmentally friendly farming, he said.