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"Compared with five years ago, well-known international brands will have an increasingly difficult time to gain or retain consumers' trust merely by offering quality products and services," she said.

"Clients are looking to cut costs and, instead of designing products themselves, they are outsourcing it to Chinese companies," Ma told China Daily. "Design costs are high in Europe and the US."

"China's fast recovery continues thanks to resolute measures in combatting the virus, mitigating its impact, and supporting growth," Georgieva said in a statement at the conclusion of the fifth "1+6" Roundtable convened by the Chinese authorities.

"China's approach is borne out of global responsibility and based upon a Chinese philosophy of self-interest that the world is safer and more secure if all nations prosper. Sharing is a byword for China's trading philosophy," Perry said.

"China will continue to deepen digital financial inclusion, which will restructure traditional financial models and become a direction of business transition for financial institutions. Digital financial inclusion will bring changes to financial concepts and the organizational structure of financial institutions, restructure their business procedures, and improve their data integration capability and technical skills," said Zeng in delivering a report at the second China financial inclusion innovation and development summit recently held by People's Daily.