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"China will unswervingly deepen overall reform, expand opening-up, promote free trade and facilitate investment, providing important opportunities to all countries, including South and Southeast Asian nations," Hu said.

"Commercial banks, whether big or small, are not familiar with customer acquisition on the internet or using alternative data provided by third-party service providers to conduct credit investigations. Under the circumstances, fintech companies will serve as necessary enablers for banks," said Victor Li, executive vice-president of Pintec, a Beijing-based fintech total solutions provider.

"Compared with consumers in other markets, we found that Chinese customers are incredibly inquisitive and hungry for information. They want to embrace new technologies and are fairly open to disruptive products," he said, stressing that with the rapid development of intelligent technology, the smart home has become an industry trend.

"China's current brandy market is mainly dominated by foreign products," said Wang Qi, executive vice-chairman of CADA. Last year, China bought 24.4 million bottles of cognac, becoming the third-largest consumer of cognac in the world.

"Chinese companies, led by Huawei and BOE Technology, gained ground. In fact, China was the only country in the top 10 to actually show an increase in US patent activity; all other countries, including the US, saw declines," Larry Cady, a senior analyst at IFI Claims Patent Services, said in a posted article on technology blog Venture-Beat.