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"China saw a dip in car sales last year, but we think of it as a marker of China's transition into a developed market," said Enno Tang, president and CEO of Continental China.

"Compared to Europe and the US, we are still at an early stage. Chinese auction houses began with Chinese artworks and Chinese collectors and expanded rapidly, just like the fast-growing Chinese economy."

"China should select central SOE leaders on the basis of both integrity and ability, with priority given to integrity, be both strict with and caring for them, and place equal emphasis on providing incentives and imposing constraints," according to a statement released after the meeting.

"China's capital market continues to evolve in a very positive and dramatic fashion, and the launch of the new board will provide many innovative companies an avenue to raise fund, thus propelling future growth," Brendan Ahern, chief investment officer at New York-based Krane Funds Advisors, told Xinhua in a recent interview.

"China's Belt and Road Initiative will be a focus for discussion again this year, as the initiative is China's solution and wisdom for embracing globalization and to generate new growth opportunities for the global economy," Xu said.