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"China's industrial product market is huge and is in urgent need of integration. An industrial product platform with efficient supply chain management and service capabilities can transform the industry and lift overall circulation efficiency," said Xiong.

"Chinese consumers also favor more high-end baijiu given upgrades in consumption, which has helped increased companies' profits," the report added.

"China, of course, offers an important academic and economic market, and we continue to build new partnerships and explore investment opportunities with businesses, institutions, and organizations there and in many other countries and territories," said Julian Beer, Birmingham City University's deputy vice-chancellor.

"China's foreign exchange reserve currency structure is diversified, even more diversified than the world's average level," said Wang Chunying, a SAFE spokesperson.

"China will continue to deepen digital financial inclusion, which will restructure traditional financial models and become a direction of business transition for financial institutions. Digital financial inclusion will bring changes to financial concepts and the organizational structure of financial institutions, restructure their business procedures, and improve their data integration capability and technical skills," said Zeng in delivering a report at the second China financial inclusion innovation and development summit recently held by People's Daily.