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Angelica Anton, founding partner of Silk Ventures, said her team's China connections are among the main attractions for member companies. Anton worked with the foreign direct investment team at the Hangzhou local government before relocating to the UK.

Analysts said as growth stabilizes, the country will strengthen regulations and reforms to pursue high-quality development.

Analysts said that despite the rate of growth, China's oil demand will likely slow over the next few years as China's economic growth slows, and demand for imported oil will continue to rise.

Analysts attributed the growing technical strength of the firms to higher research input. Data from annual reports showed that the combined research and development (R&D) expenditure of the firms totaled 59.91 billion yuan (.8 billion) in 2018, up 15.69 percent year-on-year.

Analysts expect Prayut to eventually win as prime minister, gaining votes not only from the Lower House but also from all the 250 appointed Senate members.