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China will take pioneering steps to turn the plan into reality. There will be a lean, efficient and uniform management body to ensure reforms in land use, environmental protection and public service and diverse ways of financing instead of just selling land.

China's Finance Minister Xiao Jie (R) shakes hands with his Japanese counterpart Taro Aso during the sixth China-Japan bilateral finance dialogue in Yokohama, Japan, May 6, 2017. [Photo/Xinhua]

China's auto aftermarket business experienced explosive growth during the epidemic. With the closed loop from driving traffic to after-sales formed on livestreaming platforms, the online channel will continue to be an important sales channel for the sector when the epidemic is over, said a recent report.

China's Ant Financial topped the list with a valuation of 1 trillion yuan, followed by China's ByteDance and Didi Chuxing. Moreover, six of the top 10 unicorns by valuation are from China, the other three being Lufax, Kuaishou and Cainiao.

China's auto market stepped up recovery in May, with both production and sales showing double-digit growths, as per industry data Thursday.