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China's 817 million mobile internet users and the rapidly growing knowledge economy are the main reasons for Yinxiang Biji to have such confidence in the market.

China's "dual circulation" development pattern, which takes the domestic sector as the mainstay while domestic and foreign markets complement each other, requires China's pharmaceutical industry to enhance Chinese and Western medicine cooperation, to achieve high-quality development of the industry, experts said.

China will move to win the battle against poverty, improve infrastructure and public services in rural areas, ensure supplies of important agricultural products, promote increases in farmers' incomes, strengthen grassroots governance in rural areas and improve rural weak links, according to the document.

China's CAGR (compound annual growth rate) of venture investment in innovation has been up to 41 percent since 2012. Unlike in the US, where financing in innovative industry mainly relies on venture capital, multiple Chinese technology enterprises make a great deal of investment in internet and AI with their own funds. This establishes a relatively loose financing environment for the development of domestic innovative industry.

China will push for greater reform, opening-up and innovation to keep the Chinese economy running in a reasonable range for high-quality development this year, Premier Li Keqiang said at a plenary meeting of the State Council on Monday in Beijing.