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"Commercial banks' general asset management business contracted last year, largely due to the newly released asset management regulations. But China's private banking sector grew unexpectedly, leading wealthy Chinese to invest in the country's key sectors to optimize social resources and accelerate the transformation of China's banking industry," said Bai Ruiming, deputy secretary-general of the association.

"City-specific measures are taking effects continuously," said Liu.

"China's wine market is one of the fastest growing ... in the world. Changyu must seize the market opportunities created by the new consumption pattern, and constantly meet the consumer demand of Chinese consumers for wine diversification," Zhou said.

"Chinese culture has been enlightening the world through our art, literature, philosophy, medicine, technologies in astronomy, navigation and four great inventions (papermaking, commercial printing, gunpowder and the compass)," Ho said.

"China's digital economy has scaled up from 11 trillion yuan to 35.8 trillion yuan, accounting for 36.2 percent of the GDP," Xiao added.