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China's first unmanned, panda-shaped "Sky Train" rolled off the production line in Ziyang, Southwest China's Sichuan province on Dec 8, 2016. [Photo/Chinanews.com]

China's improving economic fundamentals are behind balanced cross-border capital flows and contribute to stability. "People in China and abroad have had more confidence in the country's long-term economic and social development following the successful 19th National Congress of the Communist Party of China," the statement said. It will help maintain the stability of the foreign exchange reserves, the statement said.

China's early recovery from the COVID-19 pandemic, new business models and growing size of the domestic market will prompt global companies to continue investment in China for long-term success, said Zhang Yongjun, a researcher at the Beijing-based China Center for International Economic Exchanges.

China's local governments have been paying more attention to the planning and construction of smart parking lots in recent years, which has allowed the sector to rise rapidly.

China's efforts to transform the country to a more consumption and service-driven economy is well under way, said Yasuyuki Sawada, ADB's chief economist.