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Apart from bilateral trade, closer contacts between the peoples will also help US and Chinese nationals to better understand each other's country. At the first US-China Social and Cultural Dialogue in Washington in September, US Education Secretary Betsy DeVos said the country is sending 14,000 American students to China for educational opportunities annually.

Apart from risk control, "another key principle is to restructure the financial capital investment structure, to guide more sources shifting into high-tech oriented financial services from traditional businesses," an expert who is involved in the regulation's drafting work told China Daily.

Ant Financial topped the list, followed by JD Finance, while Du Xiaoman Financial ranked No 4 and Lufax, an online financial asset trading company that uses big data to analyze risk, came in at No 10. The companies' user numbers are growing at a staggering rate, as are their product offerings.

Annual revenue of the listed firms in 2019 averaged 16.97 billion yuan (.42 billion), expanding 15.24 percent from 14.73 billion yuan registered in the same period of the previous year.

Annapurna Labs