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New fin-tech services will be introduced to explore more financing channels for small- and medium-sized tech companies, including asset-light firms and firms yet to make profits. Local government equity funds will be channeled to support seed and early stage high-tech startups. Insurance companies will be encouraged to develop products that cover patent enforcement and patent infringement to forestall patent holders' losses from IPR violations.

Ning stressed the protection of private businesses' property rights and carrying forward entrepreneurship.

The Chinese spirituality is the key to understanding the "Chinese phenomenon," said Vlad, who used to represented Romania in Finland, Japan and Australia.

Philippine Budget and Management Secretary Benjamin Diokno said Xi's visit is important because it will not only strengthen diplomatic relations and economic links between the two countries, but also add momentum to the Philippine government's development program.

Thanks to the enhanced crackdown, cases of rat trading, known as front-running in U.S. and European markets, slumped 50 percent year on year in the first half of 2018, CSRC data showed.