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"Compared with Hong Kong and Singapore, Hainan will utilize its own resources to develop. I think it will have a late-mover advantage with a relatively faster development pace," Chi said.

"China's smart cities market is projected to increase about 30 percent year-on-year in 2018, and all the provincial and sub-provincial cities have launched development and construction for smart cities, with more to follow suit," said Pierpaolo Franco, managing director of London-based Royal Institution of Chartered Surveyors, Greater China.

"China will continue to raise policy transparency and stability, optimize government services and improve the business environment for investors from all around the globe."

"Chinese cities performed very well… with great potential to improve further in years to come given their relentless drive to modernize," said James Shepherd, managing director of Greater China research at Cushman & Wakefield.

"China welcomes the US side to participate in cooperation within the framework of the Belt and Road Initiative," said the Chinese president, referring to the vision he proposed in 2013 of building an infrastructure and trade network connecting Asia with Europe and Africa along the ancient land and maritime Silk Road routes.