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Analysts agree that tax reduction has played a significant role in further boosting market vitality and driving industrial development.

An upgraded China-ASEAN Free Trade Area Protocol took effect in July 2016 and calls for zero tariffs on as many as 95 percent of taxed items, improved rules of origin and simplified customs procedures, said Yang Chen, a senior partner at the Chinese law firm of Jincheng Tongda & Neal.

And unlike elsewhere, where food prices are overseen by a local price supervisor, the prices of meals on trains are supervised by the railway authority.

Analysts believe the platform will help address the lack of records on personal online creditworthiness and improve the national credit-scoring system.

Anez also said that in the following days, the government will look to help small and medium-sized companies by alleviating the payment of credit and taxes.