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As these industries have now become major growth engines in many regions, local governments are considering ways of luring private investment such as public-private partnerships and industrial investment funds, according to the report.

As the largest steel producer in the world, China's top 10 steel companies account for less than 40 percent of domestic capacity, far off the goal of 60 percent if the industry wants to avoid disorderly competition, while the top four mines in the world control about 80 percent of global iron core output, he said.

Asad Jumabhoy, founder and CEO of UTU, a digital rewards platform.[Photo provided to chinadaily.com.cn]

As such, Luna looks more like it was built as a “Stadia killer” than anything else. The Twitch integration may be the single largest point in its favor, with its low cost of entry not far behind, but it does share Stadia’s lack of exclusives. What neither Luna nor Stadia seem able to answer is the challenges posed by the other major players in this space.

As such, Feng rushed to sign up for the Sunflower project even when the idea had only just been put forward. At that time, there were only four regular team members.