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And with the recent development plan aiming to foster leading global companies, analysts expect M&A activities to quicken as China has a large number of companies, mostly small, in the business.

An overall plan to promote regional integration, which was decided at a meeting of the Political Bureau of the Communist Party of China Central Committee in May 2019, stated that the integrated development of the region will be bolstered with measures to advance innovation-driven development and upgrade industrial chains.

Analysts also said China's shift to focus on dealing with the three major tasks next year will help improve its ability to innovate.

An oil refining facility is seen in this file photo in Dalian, Liaoning province. [Photo/Xinhua]

Analysts said emerging signs of Chinese economic stabilization mean the world's second-largest economy is expected to play an important role in helping anchor the world economy, which, as IMF Managing Director Christine Lagarde cautioned, is at a "delicate moment".