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And when we first wrote that, the reaction by so many in the tech sector, perhaps especially in Silicon Valley, but up here in Seattle, as well, was like, “What did they put in the water on the other side of Lake Washington? What’s wrong with you folks? Why are you saying this needs to be regulated? There’s no problem here.” And then within a year, the city of San Francisco passed an ordinance that bars the city of San Francisco from using facial recognition. You see concerns about it literally spreading around the world. So that’s happened very quickly.

Analysts said that Xi's remark showed that the leadership expects highly of the board, the role of which should be further elevated to help boost the country's technological progress and high-quality growth.

And under a national plan for developing mass fitness issued last year, China aims to have 435 million people, or one third of its population, regularly do physical exercise by 2020.

Analysts said government support for entrepreneurship and innovation has provided a major boost for tech firms and startups and allowed them to survive and thrive amid downward pressures on the broader economy. The performance of listed companies is considered a leading indicator of China's economy, which expanded steadily at 6.7 percent year-on-year in the first three quarters, well above the 6.5-percent annual target.

And potential investees are not just confined to the technology circle but a broader portfolio of companies in the hospitality, tourism and real estate sectors.