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"Compulsory technology transfers are explicitly banned, while we encourage the exchanges of knowledge and technology," he said, ruling out that China forces foreign companies to transfer their technology when considering investments in China.

"Chinese shoppers, in particular those born in the 1980s and 1990s, love living a comfortable life ... they like traveling, care about their individuality, and have different pursuits to match their lifestyle," said He Xiaoqing, global partner at A.T. Kearney, the US-based management counseling firm.

"China's fixed asset investment will see steady growth in 2019. It will continue to be the primary driver of the building materials industry. The continued advancement of the supply-side structural reform will help optimize the industrial structure and provide new impetus for its development," the ministry said in a recent report.

"Culture-oriented travels are expected to become a new growth point in the next decade. We would like to revitalize the rich and longstanding historical and cultural heritage in China through niche travel products. China has top tourism resources, and we will keep developing and exploring more routes in western China, and attract more foreign travelers to visit those scenic spots."

"Co-owned housing will have little impact on the property market in the city, as the number of co-owned houses still represents a very small percentage in Guangzhou," he told China Daily.