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But the resident of Taicang city in East China's Jiangsu province will also tell you his former plot of land is in a good place－just like his current home.

But, based on current market discussions, it seems regulators will set lower bars for such companies.

By July 31, the eastern metropolis had accumulated 55.5 billion yuan via IPOs in the medical sector, representing 23.05 percent of the total industry. Total money raised in Shanghai was 66 percent higher than the second-place region Guangdong, which had raised 33.4 billion yuan.

But the digitalization of banking system requires huge economic investment. For example, Ping An Insurance Group Co has invested more than 50 billion yuan to develop big data, artificial intelligence, blockchain and other fintech technologies, while hiring about 22,000 talents in this field.

But the danger is that this smaller group of people is manipulating a much larger group, he said, referring to people who have grievances about the city's social problems.