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As the Government Work Report, released in early March, said, new economic drivers in China, represented by large scientific projects, transformation of traditional industries and flourishing startups, are profoundly changing the ways of production and life, and honing a new competitive edge for the country.

As usual in April, farmers are preparing to plant their soybean and corn crops. Faced with a potential tit-for-tat trade war between the US and China, the only sure thing for farmers is uncertainty. Soybean is Iowa's second main crop behind corn. China was the United States' largest buyer of soybeans last year: .3 billion, according to the Department of Agriculture. If China's threat of a 25% tariff on soybeans is implemented in retaliation for President Trump's proposed tariffs on Chinese goods, it would be a harsh blow for farmers and the state's economy.

As the country rolls out incentives to support entrepreneurship and innovation, companies have seen more spending on research and development (R&D) as well as patent applications.

As to the science and technology radiation, the cities ranking the top 10 are Beijing, Shanghai, Shenzhen, Chengdu, Guangzhou, Hangzhou, Xi'an, Tianjin, Suzhou and Nanjing. These 10 cities account for 36.3% and 33.2% of the country's human resources in R&D, and patent licenses. The top 30 cities make up 59.8% and 62.6% of the total respectively. It is noticeable that China's science and technology resources are highly concentrated in the leading cities of the ranking.

As these industries have now become major growth engines in many regions, local governments are considering ways of luring private investment such as public-private partnerships and industrial investment funds, according to the report.