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As many of Asia's economies gradually put the worst of the pandemic disruptions behind them, China is expected to play a key role in leading a rebound in the region. And that's thanks to further steps seen in the country's opening-up and advances in its industrial innovations, experts said.

As part of the State institutional reform plan approved by the first session of the 13th National People's Congress last week, the new watchdog for banking and insurance will be directly led by the State Council, China's Cabinet, which aims to strengthen regulation and prevent systemic financial risks, experts have said.

As of July 19, the average daily turnover of the ETF in July had soared 75 percent to HK1.6 million (.2 million), compared with average turnover of HK6.4 million in May.

As part of the deal, Nio will establish in Hefei a company in charge of its China operations, including production, research and development and sales. Nio will remain headquartered in Shanghai.

As part of its efforts to commemorate the 40th anniversary of reform and opening-up, China has announced a series of concrete measures to open up wider to foreign investors, including broadening market access, improving investment environment, and increasing imports.