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Chuancai Securities attributed the home price rises in lower-tier cities to government programs to transform shanty town areas. Residents living in these areas are usually given money in compensation for moving out and have greater purchasing power for new houses.

Chinese startups are increasing their offerings. Nio is demonstrating its battery-swap service and autonomous driving system. WM, which has just finished a 10 billion yuan (.47 billion) financing round, announced prices of its six-seat EX6 Plus SUV.Meanwhile, Xpeng unveiled a flying electric car prototype. Enovate is highlighting the digitalized functions of its ME7, and Human Horizons, whose stand is next to Tesla's, wowed the audience when its HiPhi X SUV was unveiled two days ahead of the auto show.

Citing a forecast by the International Air Transport Association that China, currently the world's second-largest civil aviation market, is expected to exceed the United States and become the world's largest by the mid-2020s, Li also noted that upgrading airports into comprehensive transportation hubs with wider coverage and higher speed will also raise its global competitiveness.

Citilink Airbus A320 is seen at Jakarta airport (CGK) in Indonesia, Jan 26, 2018. [Photo/IC]

Chinese travelers will be able to get an authentic taste of the places they visit, thanks to a new app that makes it possible to eat a meal that is cooked and served in a local's home.