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"But no kung fu has ever gained half the popularity in China as Taekwondo has," he said. "In the same way, no tea company has become as globally recognized as Lipton, a successful case of industrialism."

"China has embraced mobile payments faster than any other country and will continue to lead the global charge in this regard," said Vishal Bali, managing director of Nielsen China.

"But technology by itself is not enough. Projects with advanced technologies must be accompanied by viable business models, stable regulation, and smart policies to deploy the technologies," Nakao added.

"China has become increasingly innovative, and is determined to develop an advanced legal regime for IP protection, and new protection mechanisms have already taken shape in the country," he said in a written reply.

"China is way more advanced in mobile payments," said Virkkala. He told Xinhua that he believed "the approach is now coming to Europe."