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Analysts said Allianz's plans in China highlighted the regulator's desire to further open the domestic market to foreign players and it could mean that foreign insurance companies could enter the Chinese market by establishing wholly-owned local units in the future.

Analysts note that while US tourism picked up considerably following the thaw in bilateral ties under former US President Barack Obama, the trend may not hold as the administration of Donald Trump works to scale back the rapprochement and reimpose travel restrictions.

And there are signs a market could be out here, despite turbulence in precious metal prices.

And June welcomes the race with China, calling it a boon for the scientific and medical communities alike. "I think this is going to trigger 'Sputnik 2.0'," he told Nature magazine. "Since competition usually improves the end product."

Analysts said macroeconomic policy adjustments, focusing on boosting investment, will be able to secure a GDP growth rate within the authorities' target range of 6 to 6.5 percent this year.[Photo/IC]