Having seen the resilience, vitality and transformation of China's economy, Standard Chartered is optimistic about the country's economic prospects and its market potential, said a senior executive.

Samir Subberwal, global head of wealth solutions, retail products, data & analytics at Standard Chartered, said that China's economy has been resilient for many years tiding over various geopolitical issues, which will only result in strengthening its economy.

"We just upgraded our view of GDP growth for this year to 4.6 percent, which tells you that our view is that China's economy will strengthen despite all the geopolitical situations," he said.

"Trade is a good indicator of how China has managed in the world of tariffs, and the country's trade is growing. It is not just trade to the US, but to the rest of the world. And if you look at the policy focus in China, it is about consumption and innovation, which is also the reason why we are overweight on China equities, particularly on technology, telecommunications and healthcare.

"A pivot is already happening away from infrastructure spending, which was originally the driver of GDP growth in China. Now it will be more consumption — and innovation-driven," he said.

Ethan Wang, head of investment strategy at Standard Chartered China, said: "We saw that China's investment in research and development last year accounted for 2.8 percent of GDP, which exceeded the proportion of OECD countries for the first time. In the past, we saw that China's manufacturing industry was traditionally oriented toward cost-effectiveness and large-scale exports. But in fact, from last year's figures, for example, the growth rate of equipment manufacturing exports and the growth rate of high-end technology product exports both exceeded 9 percent. These are all intuitive indications of innovation."

Last year, Chinese mainland companies that went public in Hong Kong had over 60 percent of their offerings focused on new consumption and artificial intelligence. Foreign investors are also optimistic about the future development of these sectors in China, Wang said.

Lu Kelin, a certified innovation professional, said: "Compared to the previous export-driven model, an economy driven by consumption and innovation possesses significant advantages. First, consumption serves as a stabilizer for economic growth. The vast domestic consumption market provides sustained and stable momentum for economic growth, reducing dependence on external demand and enhancing the autonomy and stability of the economy."

"Second, innovation-driven development can improve the quality and efficiency of the economy, promote industrial upgrading and structural optimization, and make the economy more competitive and sustainable. Furthermore, the combination of consumption and innovation can give rise to new business models, create job opportunities, raise residents' income levels and form a virtuous cycle of economic growth and social development, laying a solid foundation for the long-term healthy development of China's economy," he said.