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"Considering that the regulator has significantly shortened the process of granting preparatory approvals to Bank of China Ltd and China Construction Bank Corp, and that many banks - especially large ones - have almost completed the preparatory work in terms of organizational frameworks, operating systems and staffing, the first batch of wealth management subsidiaries are expected to be formally established around the middle of this year," said Yang Yu, an analyst at the Shanghai-headquartered Hwabao Securities Co Ltd, in a research note.

"China's booming refining sector will add more pressure to crude demand, and unless the government restrains policy on refined oil exports to suspend the investment impulsion for refining projects, this will only require more crude imports in the months to come," she said.

"Currently there are around 185,000 Chinese students studying in Australia and we welcome over 1.4 million Chinese visitors to our shores every year," he said. "China is also an attractive destination for many Australians, with more than 400,000 visiting in the last year."

"Chinese consumers, especially the young generation, have significantly increased their trust in local big brands. This signals a very positive sign for the rise of Chinese brands," said He Xiaoqing, partner and head of consumption and retail industry at AT Kearney Greater China.

"China-ROK relations and the Korean Peninsula situation are in a critical period," Xi said.