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China has seen marked progress in its transportation infrastructure over the last 70 years, starting almost from scratch, according to Ma Yanjun, researcher at the Transport Planning and Research Institute under the Ministry of Transport.

China is piloting deposit-free apartment rental in eight cities, employing algorithms that track and rate people's credit worthiness to protect both tenants and landlords.

China is expected to unveil a three-year action plan on SOE reform in the first quarter of next year and these measures are set to instill fresh momentum in the country's capital market, invigorate the real economy, cut overcapacity and SOEs' administrative functions, said Li Jin, chief researcher at the China Enterprise Research Institute in Beijing.

China is also willing to boost cooperation in anti-terrorism, climate change and cybersecurity, Li said. A joint anti-terrorism drill was proposed by China at the summit.

China is accelerating plans to open up the financial industry with leading policymakers pledging to relax foreign investment rules to counter the decline of capital inflows.