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China's education market has developed rapidly, especially in large cities. Piano, painting, chess, skating and other lessons spring up in major shopping districts. Expensive summer camps claiming to broaden children's horizons are also popular. Spending on children's education is rising each year.

China's manufacturing sector expanded at a slower pace in September, partly due to weakened export performance, official data showed on Sunday.

China's economic and market fundamentals, as well as policies－including proactive fiscal policy and prudent monetary policy this year, will help support a stable foreign exchange market, Wang said.

China's grain output grew at an average annual rate of 2.6 percent from 1949 to reach 658 billion kg in 2018, managing to feed around 20 percent of the world's population with only less than 9 percent of the world's arable land, according to the report.

China's economic recovery and manufacturing capacity expansion cycle are likely to be in the early days and have more legs to run on, CICC said, reiterating its outlook for the Chinese economy in 2018.