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China's recent ban on initial coin offerings is not expected to deter the commercial usage of blockchain technology, analysts said. Rather, they believe the ban to be a necessary step for better regulation of the technology.

China's rapid improvement in easing business procedures has been lauded in a separate report from global professional services provider TMF Group. It said China is one of the most appealing investment destinations for foreign investors despite the ongoing novel coronavirus epidemic and mounting downside pressure.

China's private equity fund market has expanded quickly in recent years. It jumped 15.1 percent year-on-year in 2018.

China's progress in IPR protection is widely recognized. In the Global Innovation Index published by the World Intellectual Property Organization in 2018, China moved up to the 17th from the 22nd in 2017, making its way into the world's top 20 for the first time.

China's technology exports stood at billion in 2013, less than half that of technology imports. After years of growth, the country's technology exports amounted to .1 billion in 2019, almost equal to the value of technology imports, according to ministry data.