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"Going forward, we expect to see more IoT applications in various fields. Right now we see that already happening in transportation, security, and environmental protection," said Wang.

"Great breakthroughs have been made in key technologies, such as visible light communication, new energy vehicles and high-end mining machines," Chen said, adding that the added value of the province's high-tech industries rose by 11.2 percent last year.

"Greater efforts should be made in streamlining administration, enhancing compliance oversight and delivering better services to foster an internationally competitive business environment that provides equal treatment to domestic and foreign enterprises and stimulates the vitality of market entities and social creativity," he said.

"Having reviewed the trading performance of our business in China and the substantial investment required to continue operations in the market, we have made the difficult decision to exit our stores in China," said New Look Executive Chairman Alistair McGeorge.

"Guests are not coming now, even though we have been offering discounts," Ni Luh said, adding that many customers canceled their bookings after they learned about the eruption.