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As Chinese consumers have developed growing demand for smart and mobile solutions for home products, Yale has established a new smart residential department to better serve the Chinese clients, he said.

As Huawei continues its robust sales performance in China, a string of smaller vendors are stepping up their push to tap overseas markets. Transsion Holdings Ltd, a Shenzhen-based phone maker, for instance, has been dedicated to targeting consumers in the African continent for years. The company recently got listed on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR Market.

Around 3,000 police officers have been assigned since Sunday to ferret out the organizations, it added.

April's new yuan loan growth represented an increase of 542 billion yuan year on year, the People's Bank of China said Friday.

Arega also points labor cost being 10 times cheaper than Shenzhen, companies can invest in sectors like textile and apparel and be assured of good return on their investments.