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Changes have taken place in the institutional system of the Chinese banking sector, with a rise in the number of small and medium-sized banks and private banks that mainly target small businesses, whereas the market share of the five largest State-owned commercial banks by assets dropped from more than 50 percent to 38 percent in the past 10 years.

Chan said authorities were reviewing border control measures to bolster containment efforts, including assessing the necessity of shortening the time taken for customs clearance.

Charles Jacobs, Linklaters' global senior partner and chairman, said "internet-based" industries in China would hold the most opportunities for foreign investors, citing automotive, financial services, healthcare and education sectors as examples.

Changan said it is one of nine models that will be launched next year.

Carmaker Foton in Beijing recorded a 30 percent reduction in product research and development time after integrating its manufacturing process with the internet, said Gong Yueqiong, general manager of the company.