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As far as digital output, the country's automotive, industrial equipment, infrastructure and transportation industries will lead the way in growth. Natural resources and consumer goods will be close behind. But the financial industry's digital output will represent approximately one-third of the sector's total in 2020.

As confirmed cases of COVID-19 increase overseas, domestic manufacturers of medical and preventive supplies are encouraged to export their products to ease mounting strains facing other countries, Wang added.

As a major step of better leveraging the role of the market in resource allocation, China will soon expand the registration-based reform onto Shenzhen's innovative startup-heavy ChiNext board and release a slew of detailed regulations, officials said.

As a leader in 5G wireless, core network and terminal technologies, ZTE Corp invested 12.96 billion yuan in research and development last year, accounting for 11.9 percent of revenue. It also formed a team of 4,500 for 5G wireless research and development with annual investment of 3 billion yuan, the report said.

As a low-interest-rate environment compelled investors to make riskier investments, the share of debt owed by firms with weak debt repayment capacity has risen to a "sizable" level in several major economies, and could reach post-global financial crisis levels in the event of a material economic downturn, the IMF said.