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China's online copyright market has experienced a structural transformation from focusing on traffic to valuing content, the report said.

China's first listed bike-sharing company, Changzhou Youon Public Bicycle System Co Ltd, announced its acquisition of Hellobike on Tuesday, acquiring the Shanghai-based bike-rental brand to expand its presence in the fast-growing market.

China's information technology sector is developing rapidly. The country's information services sector saw a 76.4-percent annual growth in 2017, official data showed.

China's economy grew 6.9 percent in the first quarter this year, accelerating from 6.8 percent in the last quarter of 2016.

China's move from export-driven growth to promoting the integration of the domestic and overseas markets reflects the country's shift to nurturing new edges in global competitiveness and fostering high-quality development despite the headwinds it faces, experts and business executives said on Wednesday.