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China is perhaps among the best places to pioneer novel insurance practices thanks to the sheer size of the auto market, the constant push for digitalization and faster pickup in vehicle-related technologies, said Christophe Aniel, chief executive officer of Allianz Partners Greater China, a subsidiary that specializes in roadside assistance (RSA) for insurer Allianz Group.

China has provided assistance to more than 127 countries and four international organizations, donated million to the WHO, and sent 14 teams of experts to fight the epidemic in 12 countries.

China is seeking to end extreme poverty nationwide by 2020.

China has taken a series of supportive measures, such as tax cuts and fee reductions, to boost the corporate sector. In February, the sub-index of PMI for large-scale enterprises was 51.5, up from 51.3 in January, but that for the small and medium-sized enterprises was 46.9 and 45.3 respectively, both below the 50 mark.

China has undergone remarkable changes over the years. "Seven years ago, mobile payment and bike-sharing facilities were not so commonly seen, but now Alipay and Mobike bicycles are everywhere," he said.