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China's new economic development pattern of "dual circulation" is an inevitable trend for the country, and also a must for the nation to realize sustainable economic growth, said a top official at Tongfang Co Ltd.

China's outbound investment continues to be weighed down by a number of factors including restrictions on outbound investment from Beijing, strengthened regulatory reviews in the United States and Europe, slowing growth and lower liquidity in the Chinese economy, and geopolitical tensions, according to the report.

China's innovation capability has been improving over the past years, Zhang said, calling for making the country's western and central regions the new engine of innovation.

China's medical sector will grow to the size of 1 trillion yuan (4 billion) within the next 20 years, and this growth will be fueled by not only an army of doctors and nurses, but also troves of data, according to experts in the field of artificial intelligence.

China's economic rebound gained momentum last month as official purchasing managers indexes for the manufacturing and nonmanufacturing sectors both reached their highest level so far this year, the National Bureau of Statistics said on Monday.