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Chinese trust fund managers are also seeking new development models to invest in small and private companies to support economic growth, according to business leaders.

Chinese-American women have been playing key roles in immigrant families in supporting their spouses and children, all the while assimilating to a foreign environment themselves, said Qiao. "No matter how many hardships you have encountered, you conquer them with grace, perseverance and resilience, as the wife, and as the mother," she said.

Citibank (China) Co Ltd said on Wednesday that it has received a domestic fund custody license from the China Securities Regulatory Commission, becoming the first US bank and the first among the top five global custodians to win such a license. The license will enable Citi to provide custodial services to mutual funds and private funds domiciled in China, after passing CSRC's on-site inspection later this year.

Citing figures from consulting firm BCG, Kaellenius believes the luxury segment is where growth is and the number of wealthy individuals－with private investable wealth above 0,000－in China will grow, surpassing that in Western Europe, from 7 million in 2019 to 20 million by 2030.

Chong Quan, president of the China Society for World Trade Organization Studies, a nongovernmental research institute of WTO, said the most imperative part of WTO reform is to revitalize its dispute settlement mechanism.