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China is much more likely to become a leader in innovation in key emerging industries－boosted by its young talent, government support and extending internet penetration－according to panelists attending the Fortune Brainstorm Tech International Conference in Guangzhou on Tuesday.

China has seen strong compound growth of 16.9 percent in insurance revenue between 2011 and 2017. It has become the world's second largest insurance market with 11 percent of the global stake in 2017, second only to the US, an industry report from iResearch said.

China has taken multi-pronged measures to protect the economy from succumbing to epidemic shocks. Building on earlier efforts to advance the resumption of production, the country has ramped up tax and fee reductions and provided firms with low-cost loans to help them tide over difficulties.

China has pledged to eradicate extreme poverty domestically by the end of 2020 to honor the centenary of the Communist Party of China in 2021.

China has pledged to increase its total installed nuclear capacity to 58 gigawatts by 2020. It had 45.9 GW in operation as of January.