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Delegates attending the two sessions in Beijing also pinned high hopes for the new tech board. Yang Chengzhang, chief economist at the research institute of Shenwan Hongyuan Securities, said that the new board will better serve companies in emerging industries to provide them with more financing channels. Technology will be better and more widely used in finance to reduce companies' financing costs, he said.

Despite the growth moderation, Lian told an economic forum that there is little possibility that China's economy will suffer a hard landing this year, due to the nation's supportive macroeconomic policies, improved exports, and tightened financial regulation that is set to drive capital into manufacturing and other non-financial sectors.

Despite the lackluster performance of the passenger car segment as a whole, premium cars are surging against the tide.

Deputy Finance Minister Zou Jiayi. [Photo/bundsummit.org]

Despite the new cases, the long-delayed 2020 Chinese Super League will kick off Saturday in both Dalian and Suzhou, Jiangsu province, each hosting eight CSL teams.