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Chinese financial assets, especially currency and government bond markets, emerged from the pandemic with "characteristics of a safe haven," said Nakhjavani, noting the relative stability of yuan, continuous rise of foreign demand for government bonds and more capital inflows into Chinese stock markets.

Chinese banking institutions had offered credit support of over 746 billion yuan (about 6.53 billion) as of Wednesday noon to boost production restoration amid epidemic control efforts. [Photo/Sipa]

Chinese people's consumption of services has been steadily rising over the past two decades. Use of transportation and telecommunication services, for example, accounted for 18 percent of urban residents' total consumption in 2018, up from only 7 percent in 1998, according to a report by Moody's Investors Service. Residential expenditures for services in education, culture and entertainment and healthcare also increased substantially in the past 20 years.

Chinese private enterprises are facing imbalances in their innovative development, with most of their focus on innovation of products but little on innovation of talent management, services, ways of financing and other aspects, a newly published whitepaper said.

Chinese Vice-Premier Liu He will attend the conference as a guest of honor. A high-level Chinese delegation of more than 60 people will attend the summit. They are mainly from companies in sectors including petrochemical industry, automobile, electricity, transportation and environment protection.