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Anhui is building 24 production bases for emerging industries. Hefei alone houses 186 semiconductor companies and 85 display panel makers.

Analysts hold there is room for further tax reductions through measures such as lowering corporate income tax and expanding the scope of expense reductions for enterprises. Currently, China has three brackets for value-added taxes at the ratios of 17 percent, 11 percent and 6 percent respectively. The country can reduce the three brackets into two in the future, analysts suggest.

Analysts say the move shows investors' confidence in the startup and the potential of the Chinese market, which is already the world's largest new energy market.

And his culinary skills - especially when it came to preparing catfish - developed over time, until he became known throughout the region for his cooking.

Anglee, a skincare product maker, which established its facility in Guangzhou in 1991, has opened three medical cosmetology shops in Guangzhou and aims for an initial public offering in the mainland to fund more such shops, which are also beauty parlors, said chairman Aaron Lin.