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Chinese experts suggested strengthening regulations on large technology companies providing financial services, or "BigTech" in finance, warning of risks of high leverage, liquidity mismatch and bad assets.

Chinese internet search giant Baidu Inc is looking to work with Indian institutions in the future to make a better world through innovation, said Robin Li, co-founder, CEO and chairman of the company, who underscores the infrastructure for artificial intelligence will significantly propel the speed of innovation.

Chinese companies are also teaming up to develop smart cars. A total of 21 Chinese companies are planning a 1 billion yuan (4 million) joint venture that will specialize in research and development of such cars. Among investors are FAW Group Corp, Dongfeng Motor Corp, China Mobile, China Unicom and ridesharing giant Didi Chuxing's parent company, Beijing Xiaoju Technology, according to Shanghai Baolong Automotive Corp, also a potential investor, in its filing with the Shanghai Stock Exchange in late December.

Chinese people's desire for leisure activities is rising thanks to high-quality economic growth, but the development of the sector is being hindered by a lack of free time and suitable products, the Tourism Research Center of the Chinese Academy of Social Sciences said in an annual report released on Monday.

Chinese and European Union officials and experts are pushing for further cooperation at a time when China marks its 40th anniversary of reform and opening-up.