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An official with the city's legislature also told Xinhua the regulations will offer legal guidance to future island development by specifying supervisors and application procedures.

Analysts said the rising supply of residential land is aimed at relieving the supply-demand contradiction in Beijing's property market and help stabilize housing prices.

Analysts, including Han Xiaoping, chief researcher at industry and energy website china5e.com, said the listing of Murban futures contracts is a move by the oil producers and traders to rival well-established crude oil bench marks such as Brent and West Texas Intermediate.

Analysts said local investors are displaying growing enthusiasm for chip companies, as the importance of a globally competitive semiconductor industry is highlighted amid the US government's efforts to contain the rise of Chinese technology enterprises.

Analysts said Technologies like big data and artificial intelligence should underpin the development of instant delivery; meanwhile, government should improve laws and regulations to bring more order into the industry.