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"By officially introducing the world's payments giants such as PayPal to China, the People's Bank of China is hoping that domestic payment service providers will raise compliance awareness and enhance capabilities to ensure their operations fully comply with regulations through greater competition with their international counterparts. It may be more effective than simply relying on regulators and law enforcement agencies to fight against payments market irregularities," Zhao explained.

"China is leading early adoption in 5G and has already built more than 160,000 5G base stations covering more than 50 cities as operators aim to expand standalone 5G network coverage and capacity," said Sihan Bo Chen, Head of Greater China, GSMA.

"China has been one of the six global research and development hubs for L'Oreal Group. Our goal is to innovate in China, for China and to inspire the world," he said.

"China has invested heavily in Africa and therefore it is in its interest to promote peace and security that is key to improve the business environment."

"China also needs to accumulate more technologies and practical solutions to produce batteries for electric vehicles in a cheaper way and handle old batteries in a sustainable way," he said.