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China's FTA approach is also tied to broader goals such as the Belt and Road Initiative to build new trade and infrastructure links across Eurasia, said He Weiwen, deputy director of the Center for China and Globalization in Beijing and a former Commerce Ministry official.

China's P2P industry had seen fast growth in the past few years. Last year, many P2P firms reported business failures and fraud, prompting the regulators to step up oversight.

China's central bank is very close to launching its own digital currency after five years of research and development in the area, according to a senior official.

China's central bank is revising a law to make way for issuing the country's digital currency, and the public will be able to exchange the new type of money only at certain qualified commercial banks, according to officials and analysts.

China's 5G commercial use is the natural result of a favorable domestic market, policy support and fast development in the area, an expert cited by China Newsweek on Friday said as the country granted commercial licenses for 5G last week.