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As the mixed ownership reform of these SOEs made impressive progress, China has selected 50 SOEs in three rounds to conduct such reform, from both the centrally and locally-administered levels, in fields including power, energy, civil aviation, telecommunications and the defense sector since 2016, the National Development and Reform Commission said in October.

As the fastest and largest-growing EV market, China accounts for around 50 percent of the world's battery EV sales. By 2030, approximately 80 percent of EV charging in China is expected to be done at destination, forecourt and fleet hub charge points.

As the Canada-China Year of Tourism (CCYT) enters the peak season, Canada's tourism industry is preparing to welcome a record number of Chinese visitors, which is hoped will lead to good middle-class jobs for Canadians and spur economic growth.

As such, Flament said cooperation with Chinese companies and institutions is crucial as they are advised to apply for tests at the testing bases in China so that there will be more global agreements reached.

As the possibility is low for China to loosen its property price control measures, the real estate sector will see its investment and sales ease this year, the report said.