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"Entering the video conferencing sector, we will not offer any hardware products. Instead, we will focus on providing the platform and standard software as a services, dedicated to connecting people, devices, conference rooms and maintaining strong communications," Wu said during the launch event on Wednesday in Beijing.

"Facing a complicated and grim international situation and severe global economic recession, global trade and investment continues to be at a low ebb," Tang said.

"Dual circulation" is a choice for China to cope with rising challenges from domestic and global economies. Besides internal circulation centered on the domestic economy, external circulation will help China's domestic economy further integrate with the global economy and achieve higher-quality opening-up.

"Developers' prudent attitude toward land is because of slower sales as well as policy tightening relating to conventional financing channels since the second quarter," said Xie Chen, head of research with CBRE China.

"Debt ratio can reach 70 to 80 percent in some listed property companies, and REITs can help maintain their cash flow by paying investors bonus with a continuous income from rental."