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China's major internet giants are already embracing the trend and betting big on the promising market.

China's equity market is expected to improve in the second half of this year as investor sentiment is brightening in a largely stable macroeconomic environment, said analysts.

China's financial system is governed by the central bank, the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission.

China's industrial output expanded by 5.6 percent on a yearly basis in August, faster than the growth rate of the previous month by 0.8 percentage point. 

China's economy bounced back to growth in the second quarter this year. Macro policies, including tax and employment-oriented policies, have rendered effective support to economic recovery, Guo said, adding monetary and fiscal policy also played an important role.