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The government of the coastal city said it has also set up a fund of 5 billion yuan to help future television and cinematic works produced at its Oriental Movie Metropolis, which is poised to become a world-class film studio. A maximum of 40 percent of the production cost could be covered for one work by the fund. Capital market would be introduced to support the fund.

The government will help companies seek new opportunities in emerging overseas markets such as members of the Association of Southeast Asian Nations, encourage exporters to sell products domestically and foster use of new business models such as cross-border e-commerce, Zhong said.

The fundamental drive to read is the desire to be transported to some place new — and like Harry Potter yearning to escape his dreary muggle life, the number one place we want to go is Hogwarts.

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The government said it planned to make Mingyang a role model for civil-military integration, a hub for technological innovation, a center for technology exchanges, a base for innovative professionals and a destination for high-tech businesses.

The government has also stimulated employment in the fields of teaching and the arts, offering 5,800 teaching positions at kindergartens and primary and secondary schools, as well as 5,000 jobs for arts and sporting talents.

The fourth plenary session of the 19th CPC Central Committee, which concluded Thursday, focused on how to advance the modernization of China's system and capacity for governance.

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The government aims to phase out 150 million tons of coal capacity this year. As of the end of May, around 97 million tons of coal capacity had been cut, accounting for 65 percent of the annual goal.

The government will implement the Healthy China strategy, raise the basic medical insurance and serious disease insurance benefits.

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The government is in the third year of a regulatory crackdown on riskier lending practices, which has slowly pushed up borrowing costs while reducing these alternative and murkier funding sources for companies such as shadow banking.

The fund, called Cathay Midcap II, was backed by Cathay’s previous cornerstone limited partners China Development Bank and France-based Public Investment Bank (also known as Bpifrance), as well as a mix of sovereign funds, institutional investors and family offices.