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"For mainland-based companies seeking IPOs, they are likely to receive higher valuations on the STAR Market than on bourses outside the mainland, giving the board a big advantage," said Zhu Ning, deputy dean of the National Institute of Financial Research at Tsinghua University.

"For deposits, Yu'ebao has appeared; for loans, there are numerous companies such as Ant Financial Service Group and JD.com; for payment, there are Alipay and WeChat Pay; for financing, crowd-funding has already drawn lots of attention; and furthermore, Fintech will overturn the insurance sector in a more 'ferocious' way," Zhu, also chair of the National Institute of Financial Research, Tsinghua University, told participants.

"Having so many shows premiering in the city means that we are the trendsetters and it shows how determined we are to develop Shanghai's cultural scene," said Huang Changyong, head of the Shanghai Theatre Academy, the co-host of the festival.

"Following the reform of ChiNext, the registration-based IPO system will be implemented, mainly targeting fast-growing innovative startups. To a certain extent, it fits in with the development needs of the new economy and new infrastructure," Yang added.

"For us, the challenge is to take a car like this, a Bentley, across the Gobi Desert, a car that's more suited to maybe driving to the opera or going on a tour around London. So the car has been prepared quite specially for the rally. The route is very challenging, in Mongolia there are barely any roads at all," Mike told China Daily at a gathering point for the motorists in the Shangri-La Hotel, Beijing.