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Aside from regulation, challenges the responding companies expected to face in 2015 include "local competition", "rising labor costs", "lack of qualified managerial and specialist talent" and "foreign competition".

Doval, for his part, said the bilateral relations between India and China have improved since the new Indian government was formed. As the two fastest growing developing countries in the world and Asian fellows, India and China face a number of mutually beneficial cooperation opportunities.

The CCDI said Bai and Nie's illegal gains have been confiscated and they will both be the subjects of criminal investigations.

BRUSSELS, March 9 (Xinhua) -- China's defense budget growth is driven by multiple factors and it doesn't indicate that China has "aggressive intentions", a European security expert said in a recent interview.

The opening of the China-CELAC forum's first ministerial meeting less than half a year after the forum was established in July 2014 showed that both sides are eager to strengthen cooperation with each other, said Ulises Granados, a professor of international relations at Mexico's ITAM College.