The company is just one of the many in the industry that is looking to innovate. Meanwhile, Beijing is encouraging its cultural attractions such as the Temple of Heaven and the Summer Palace, to develop creative products that display distinctive Beijing elements, says Liu Bin, a research director with the Beijing Municipal Bureau of Culture and Tourism.

Night tourism featuring opera performances, city tours and gourmet food experiences will be launched.

The capital city will also promote films, animation, games and fashion to boost its tourism offerings, says Liu.

Old factories are also being transformed into culture zones to encourage consumption.

"We want to present an opening-up, an inclusive capital of a great country, with confident people and culture," says Liu.

Increasing Chinese per capita disposable income has also helped to create a big consumption capacity, which has affected the culture and tourism industry, says Tripvivid founder Liu Zhaohui.

Tripvivid focuses on culture and tourism consultation, and was founded in 2014.

The Chinese per capital disposable income is expected to double by 2020, as compared with 2010, says Liu Zhaohui quoting a Morgan Stanley report. "The tourism consumption momentum is just beginning to rise," he predicts.

China's population is expected to hit 1.45 billion by 2030, according to a State Council report, with the urbanization rate at 70 percent.

"So, the core resources in the peripheries of those urban areas will drive a huge wave of culture and tourism investment and consumption," he explains, adding that 5G is likely to bring more profound changes to the industry.