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"China is a major consumer in the global energy and commodities market, but the lack of effective ways for Chinese companies to participate in global futures trading had led to their pricing disadvantage," she said.

"China is creating mega unicorns at a fast pace, and some of the leading companies are now as big as comparable US firms. For example, Tencent is as big as Facebook," said Harry Man, a partner and founding member of Matrix Partners China, a venture capital company founded in 2008.

"China and the EU should continue to focus on cross-border investment and two-way opening so as to build a fair, open environment and a mechanical framework for business," said Zhou Xiaochuan, former governor of China's central bank.

"CPTPP has become more important because of the growing threats to the effective operation of the World Trade Organization rules," New Zealand Trade Minister David Parker said on Wednesday.

"China is determined to make 5G a top priority on its national agenda, striving to take a leadership role in the global landscape," said Steve Lo, the managing partner of EY's greater China Technology, Media & Telecommunications division. "It is also pressing for participation in the formulation of the international 5G standard to make China one of the main players."