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"China is of strategic importance to Standard Chartered. We are honored to be the first international bank to be granted this license," said Bill Winters, group chief executive of Standard Chartered."China is already being recognized as a major financial market. We are excited to be part of this process as we work closely to support our clients in their custody needs."

"China has more than 150 million stockholders and the stock market has become increasingly close to people's daily lives, so safeguarding their legitimate rights by the rule of law is the responsibility of courts nationwide," Liu Guixiang, a senior judge of the top court, said when explaining the guideline on Friday.

"China is a huge market with bright prospects. I hope our products can ultimately serve the Chinese consumers and make a difference," she said.

"China and India both are developing countries and major emerging economies with huge home markets," said Gao Feng, spokesman for the Ministry of Commerce. "The two countries are highly complementary in terms of economic development models."

"By proposing public goods like the BRI and AIIB, among many others, China has shared its development dividends in real terms with the world and let other countries hitch a ride," Wang Wen of Renmin University told Xinhua.