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"Growth of shadow banking assets will remain constrained in 2018 due to tight regulations. These include banks' off-balance sheet wealth management products and asset management products originated by non-bank financial institutions, which were the fastest-growing shadow banking products in 2015. Trust loans and entrusted loans, the remaining growth driver in 2017, are also under regulators' spotlight," said global credit ratings agency Moody's in its Quarterly China Shadow Banking Monitor report issued in May.

"Forefront technology is now assisting human beings with some easy work and will have a far bigger impact in the future. We hope that more economies and groups can be involved to share this huge benefit," he said during a parallel session at the second China International Import Expo, which kicked off on Tuesday in Shanghai.

"For this purpose, current provisions that have constrained development of the market should be removed," Hong said.

"For Alibaba, the best way to block vendors with bad reputations from re-entering its shopping platforms is not closing their stores but eradicating the criminal chain with the help of government power."

"Fintech offers career opportunities to people with experience in almost every area of banking and financial services, as well as experts in artificial intelligence, biometrics, cloud and big data," Lance said.