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Chinese bonds will become the fourth largest currency component, following the US dollar, euro and Japanese yen, after full inclusion.

Chinese cinema has seen rapid growth, of more than 30 percent a year, particularly in major cities such as Beijing and Shanghai, according to Zeng Maojun, president of Wanda Pictures, at a forum earlier this week.

Chinese companies, as well as the government, are showing greater interest in innovation-related projects, he said. The government has already been involved in Hungary's Extreme Light Infrastructure project, which aims to investigate the interactions of light and matter with high intensity, he said. The project is expected to have a significant impact on materials science, medicine and environmental protection.

Chinese cellphones have grabbed over 50 percent of the market share in India, and are mostly assembled locally. Any attempt to keep them at bay or shut down Chinese-invested factories will hurt the Indian economy and cost Indian jobs.

Chinese companies are now attaching more importance to localized management and organic growth in the domestic market, which will naturally translate into a global status, rather than focusing on growing international market share via mergers and acquisitions, said experts from JPMorgan.