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"China's internet insurance industry is still nascent," said Tuo Guozhuo, professor of the Insurance Department of Capital University of Economics and Business.

"Chinese contractors have increased the supply of affordable houses and hence help to stabilize the price of houses in the country," Makathimo said during the release of a report on the status of service delivery in the land sector.

"Compulsory technology transfers are explicitly banned, while we encourage the exchanges of knowledge and technology," he said, denying that China forces foreign companies to transfer their technology prior to investing in China.

"China will play an active and vital role in prompting the development of the semiconductor display industry, which has a high entry threshold and needs high investment," Li said, while noting China has the best chance of making a breakthrough in this field and expressing confidence in the prospects of the high-tech industry.

"China's economy has been transitioning from a phase of rapid growth to a stage of high-quality development," according to the report of the 19th National Congress of the Communist Party of China in October.