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Another notable shift in the job market is the industries that suffer the biggest shortage of talent. While the internet remains the first in seeking employees, construction, services, healthcare and trade top the list, replacing traditionally popular sectors like finance and communications.

Apart from signing a number of business contracts with China's SOEs such as China National Chemical Corp and China Eastern Airlines during the third CIIE, Honeywell International Inc, a US-based industrial conglomerate, is planning to either expand production lines or better optimize resources of its 21 plants in China, in order to enhance productivity and serve customers in a more efficient manner, said Scott Zhang, president of Honeywell China.

Apart from the BFA annual conference, three other key global events will be hosted by China this year and are all expected to be attended by Xi.

Another resident surnamed Lee in her 60s said she came because she wanted to wake up young people.

Apart from heightened competition with newcomers to the financial sector, banks are also facing challenges such as narrower net interest margins and financial reforms highlighting the regulatory prohibition of the conduct of multitranche channel business.