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China's central and local governments are engines driving its economic development, by providing macro-level guidance, ensuring stability for a super-large country, and attracting investment and creating jobs and income via such resources as taxes, land and policies, said Zhang Weiwei, head of China Institute, Fudan University.

China's No 2 smartphone maker Xiaomi Corp raised about billion from a combined top-up placement and a convertible bond sale last week, Hong Kong's largest such deal on record. Pop Mart International, a Beijing-based trendy toy maker, saw its shares rise by as much as 100 percent during its debut on Dec 12.

China will ratchet up efforts to commercialize 5G communication technology and welcomes foreign enterprises to join the process as part of the country's push to expand opening-up policies, the top industry regulator said on Tuesday.

China's biggest bicycle-sharing startup, Ofo, began operating in the capital on Sunday and announced plans to make 2,000 shared bikes available there this month and well as to expand the service across the region.

China will further reform and open-up to promote high-quality development while maintaining consistency in its macroeconomic policies, Li told about 1,000 guests at a welcoming banquet hosted by Singapore Business Federation and Singapore Chinese Chamber of Commerce and Industry.