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And Chinese consumers are not hesitant about paying for such a service, with more than 90 percent expressing their willingness to pay a premium for a vehicle that can communicate with other vehicles and road infrastructure to improve safety.

And the country also contributes to world economic growth with its leading edges in high-speed rail, e-commerce, mobile payment, artificial intelligence (AI) and the sharing economy.

Angel Gurria, secretary-general of the Paris-based Organization for Economic Cooperation and Development, said he has pinned high hopes on China's reform agenda, which is people-oriented to deliver a better life for millions. "Every year I have traveled to China two or three times, and I can tangibly feel the impacts of China's reform agenda," Gurria said. "I particularly feel impressed by China's poverty-reduction efforts, which have year-by-year targets."

Analysts expect the first batch of new listings under the registration-based system on the innovative startup-heavy board to debut by early September, helping sustain investors' rising appetite for growth stocks.

Analysts said that the IPO reform will help boost the role of the equities market as a main funding channel for the country's promising startups and accelerate the country's industrial upgrade and economic transformation toward an innovation and technology-driven growth model.