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Both Wang and Sisolak believe cooperation on the subnational level is vital. The current trade friction between the two countries "is not good", Sisolak said. "We need to move forward."

Bogle spent the first part of his career at Wellington Management Co, a mutual fund company, then based in Philadelphia. He rose through the ranks and, in his mid-30s, was tapped to run Wellington.

Big players in the third-party payment services market and the peer-to-peer or P2P lending market are likely to be included first, they said.

Bogardi adds that new competition in China will also encourage domestic financial companies to update their governance standards in line with international norms.

Biwott said Kenya is ready to engage in trade with the Asian giant in agricultural products such as flowers, horticulture, tea, coffee and nuts. Tourism services will also feature prominently in the Kenyan pavilion in a bid to increase tourists from China from the current number that is lower than 100,000 visitors annually.