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China's deposit insurance scheme came into effect in May 2015. It covered commercial banks, rural cooperative banks and rural credit cooperatives. Under the scheme, a depositor can expect to receive an insurance payout within seven working days after an incident. The payout covers a deposit of no more than 500,000 yuan for each depositor in a bank.

China's largest online travel agency Ctrip has made available red packets containing foreign currency on its brick-and-mortar stores and online platform ahead of the Spring Festival this year.

China's new energy vehicle market had maintained growth, with sales totaling 947,000 from January to October, up 10.1 percent. But their sales have fallen month-on-month since July due to subsidy cuts.

China's opening-up strategy has been benefiting not only China itself, but the world as a whole, he said.

China's investment in 5G infrastructure has witnessed an unprecedented growth with bulk of the efforts being trained at creating new infrastructure that will lend "innovative but strong" impetus for local economic growth, experts said.