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Banks will be crucial intermediaries in boosting the flow of capital and trade between China and Australia, an industry executive said.

Banking institutions handled 203 trillion yuan ( trillion) in mobile payments in 2017, up 28.8 percent, according to the People's Bank of China (PBOC).

Banks are required to strengthen the audit and supervision over payment agencies' foreign exchange services, and may also provide market entities foreign exchange settlement and sale services as well as fund collection and payment services depending on electronic transaction information.

Based on ARM architecture, a design commonly used in smartphones and tablets, Kunpeng 920's power efficiency is 30 percent better than that offered by industry counterparts, which can greatly help reduce energy costs, Huawei said.

Bankers have high hopes for the development of technologies and firmly believe that challenges and opportunities can coexist in the future, said Richard Zhu, finance services leader at PwC China.