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Compared with many countries in the West that are still transitioning from desktop-based operations to smartphones, China's mobile internet is the most innovative.

Combined net profits from growth enterprises listed on the tech and emerging sector-heavy ChiNext board surged 36.7 percent in 2016, faster than the 4.3-percent growth from publicly traded companies on the two main bourses in Shanghai and Shenzhen, according to data from Choice.

Colin Sheaf, head of Asian art at Bonhams, said Lin became prolific after he moved to Hong Kong, where his work proved very popular with Western visitors.

Competition among automakers in the new energy vehicle sector will become more intense as international automakers introduce more competitive models and many new startups launch their products, said Kou Nannan, a senior associate with Bloomberg New Energy Finance's advanced transport sector.

Commercial insurance companies will be supported in offering short-term export credit insurance services and lowering premium rates.