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"Compared to Europe and the US, we are still at an early stage. Chinese auction houses began with Chinese artworks and Chinese collectors and expanded rapidly, just like the fast-growing Chinese economy."

"Considering the European market tends to be conservative and stable, the end of the EU's restrictions won't affect demand this year," he said.

"Currently, infrastructure construction has a dominant role, but the demand for related services will be tremendous in future," said Zhao Guangbin, senior economist of Shenzhen Qianhai PricewaterhouseCoopers Business Consulting Services Co Ltd.

"China's financial sector de-risking accelerated with a wide range of decisive measures adopted; credit growth slowed; overcapacity reduction progressed; anti-pollution efforts intensified; and opening up continued," according to a statement issued by James Daniel, assistant director of the Asia and Pacific Department of the International Monetary Fund (IMF), after the IMF annual Article IV review of the Chinese economy.

"Chinese investors have really shifted their investment interests to Australia's hi-tech, high quality health products and services sector in the last three years," Ferguson told Xinhua on Tuesday.