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"China's economy has been transitioning from a phase of rapid growth to a stage of high-quality development," said the report delivered to the 19th Communist Party of China National Congress in October. "This is a pivotal stage for transforming our growth model, improving our economic structure, and fostering new drivers of growth."

"China's manufacturing sector and the broader economy are likely to continue steady growth on the back of favorable macroeconomic conditions and rebounding foreign markets demand," investment bank China International Capital Corporation said in a research note.

"China takes real actions to reject unilateralism and protectionism, providing guidance toward the right direction of building an open world economy," Wang said.

"Cultural companies were absent from the IPO deals in the TMT sector, indicating the sector's development is imbalanced. But with the new guideline, it can be predicted that there will be more cultural companies going public in 2019," said Wang.

"Chinese investors are more cautious about investment. They no longer chase those hotbeds but start to think about business sustainable in the long term," said Xu.