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Despite the moderate economic contraction in October, Qu Tianshi, an economist at ANZ Group, said he remained optimistic about China's economic outlook as the government policy priority will focus on pushing reform and reducing economic leverage.

Despite some turbulence along the way, China's economy ended 2017 stronger than expected: headline growth is sure to meet targets, financial risks are being contained, the property market is cooling down, and key reforms are making steady progress.

Demand for gold is expected to continue to rise on the back of growth in high-end consumption and demand from second- and third-tier cities, it said.

Degrees range from four years for a bachelor's degree in medicine to nine years for a PhD. The university also offers degrees in pharmacology, applied psychology and optometry.

Describing the challenges as "unprecedented," Huang stressed legal systems should catch up with technological advances.