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China's online tourism sector is witnessing a boom, and firms in the business are growing rapidly, on the back of Chinese wanderlust.

China's oil demand is expected to increase 4.6 percent year-on-year to 615 million tons in 2018. The country's oil consumption increased 5.9 percent annually to 590 million tons last year, the highest figure since 2011, said the report.

China's high-flying new energy car startups are looking at scalable vehicle handover this year as they promote data-backed solutions to enhance mobility.

China's growing expertise in infrastructure construction also enables domestic producers to play a bigger role in areas previously dominated by other global players.

China's development has pushed the global economy, and its contribution to world economic growth exceeded 30 percent in 2017, government data show.