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China's beer drinking population accounted for 48.57 percent of the total population in 2017, down 3 percentage points from 2011, according to Euromonitor International.

China's box office had raked in more than 3 billion yuan in the first four days of the week-long holiday, breaking the sales record for the same period.

China will strengthen IP protection across the board and improve the system of punitive compensation for IP infringements, according to the country's government work report.

China will, however, see increased iron ore imports in 2018, as the country closes small polluting mines to improve air quality, according to Lei Pingxi, chief engineer at the Metallurgical Mines Association of China.

China's P2P industry had seen fast growth in the past few years. Last year, many P2P firms reported business failures and fraud, prompting the regulators to step up oversight.