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Another report released by the SIC earlier this year showed China's sharing economy saw transactions worth 2.94 trillion yuan last year, up nearly 42 percent year-on-year.

Any stay over 90 days, and stay for the purposes of work and study will require application for a visa in advance.

Another incident involving foreign teachers caused outrage after sixteen foreigners – seven teachers from the Xuzhou branch of EF Education First and nine students from nearby schools – were among 19 people detained in Xuzhou earlier this month in an anti-narcotics crackdown, according to the Xuzhou public security bureau.

Another reason for the foreign investment growth is the acceleration of the reform and opening-up of the Chinese financial market. Pang Ming said, with the advancement of the country's reform and opening-up, further refinement in the financial market system, and better connections with international financial market rules, overseas investors have increasingly recognized the rising degree of openness in the Chinese capital market.

Another 45 companies withdrew their applications, while 188 were approved, said the CSRC.