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"Financial technology is at core of our work at the current stage … We are trying hard to learn from fintech companies in terms of infrastructure construction, the integration of information technology and banking business, the building of innovation mechanisms, and the restructuring of human resources to hire more talents specialized in digital and information technologies," said Chen at a news conference in Beijing.

"Handicraft works is the accumulation of wisdom and history of the Chinese nation. It's a valuable cultural heritage that needs to be passed down and carried on by Chinese all over the world," said Chen Yuancai, honorary president of the Global Arts and Crafts Association and executive vice-president of the National Women's Handicraft Association.

"Further, we will promote psychological knowledge on modern information platforms together with departments of civil affairs, education and associations," he said.

"Financing cost of above 6 percent may put pressure on developers who do not have access to abundant liquidity," the research note said.

"For instance, venture capital heat is cooling down currently. The market now has more rational and calm voices, and the opportunity will born at this time," he said.