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As individuals with significant wealth in China are entering their mid-50s and seeking services for the maintenance of their family's wealth, the business of family offices has a great deal of growth potential in the next decade, according to a report released on Wednesday.

As international oil prices have risen, the retail prices of gasoline and diesel will rise by 115 yuan (about .22) and 105 yuan per tonne, respectively, according to the National Development and Reform Commission (NDRC).

As high-tech products like industrial chips or automobile engines are critical to a country's industrial development, Tu said China will deploy more resources to boost core manufacturing innovation activities such as intelligent manufacturing, green manufacturing and high-end equipment innovation projects.

As of Monday, the S&P US Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on US exchanges by total market cap, stood at 4,148.06, marking a 4.57-percent increase for the month-to-date returns and a 30.97-percent gain for the year-to-date returns.

As new lifestyles and ways of consumption boom, intelligent upgrading and business model innovation are encouraged in the transportation, online shopping, cultural travel and catering sectors, the report pointed out.