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Gu said he expects sufficient demand for the crude futures contracts from both industrial and financial clients as they needed a tool to manage risk, and hedge against inflation.

When 5G services are popularized, experts say, they will bring a complete revolution of the way people live. Among others, 5G technology will rev up the application of the "Internet of things (IoT)" thanks to its super-fast Internet speed, which is likely to be 100 times faster than that of 4G connections.

"The 5G auto-pilot vehicle is still a concept for us at the moment, but we've already developed every apparatus and device for launching 5G connection on a real car," Andy Zeng, a 5G technical engineer at Qualcomm, told Xinhua.

The securities watchdog was asked to keep promoting IPO system reform and enhance coordination with other agencies to prevent and address financial risks and protect investors interests, according to the decision.

A major aspect of such changes is an economy less reliant on investment that analysts believe has become less effective and can easily cause structural imbalances. Consumption is now a key economic driver and contributed 58.8 percent to the domestic gross product growth in 2017, according to the NBS.