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China's capital market reform and opening-up, a key area of supply-side structural reform in the financial sector, is set to bolster the nation's innovation-driven growth, analysts said.

China's biometric identification sector has been experiencing a surge in demand for its services in recent years, according to ibaogao.com, a market research report website. In 2015, its revenue reached more than 10 billion yuan (.6 billion), and the figure is expected to hit 30 billion yuan by 2020, with a compound annual growth rate of 24.6 percent.

China's GDP expanded 6.9 percent in the first quarter of the year, up from the 6.8-percent growth in the previous quarter and 6.7 percent for 2016. The government has targeted annual growth of around 6.5 percent for 2017.

China's auto sales increased 13.7 percent in 2016, but the market was under pressure last year from government policy adjustments such as sales tax hikes.

China will offer meteorological services to all parties through its Fengyun 2 weather satellites, President Xi Jinping said in a speech at the two-day Shanghai Cooperation Organization Summit on Sunday in Qingdao, Shandong province.