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"China's tremendous success in lifting the majority of the underprivileged people out of poverty in over a little more than 30 years is a feat that is unparalleled and truly inspiring," said Mark van den Boogaard, senior policy adviser for the United Nations Development Programme.

"Considering the high proportion of small businesses from the Chinese mainland that sell online and utilize other digital technologies, there are opportunities for reputable financial institutions to apply financial technologies and big data analysis to make it easier for small business to access finance," Chan added.

"Currently, many CapitaLand's projects in China's southern, western and eastern cities are related to urban renewal. To date, our company has faced greater challenges, including those from global economic uncertainties to local policies on real estate development. We think a closer relationship with both government and business partners will help tackle those problems," Loh said.

"Currently, there are still some financial institutions from Asia, Europe and the Americas doing market research in China. Some have made clear their business expansion plans in the country, and some have submitted their initial applications for the establishment of financial institutions in China. We estimate that a growing number of foreign institutions will take part in Chinese financial markets over a period of time in the future, and they will become an effective strength for high-quality development of the domestic financial sector," the spokesman said.

"Countries succeed by having open systems, not closed borders," he said. "The US has long thrived through openness and diversity. China, of course, has conducted business and cultural exchanges with openness for thousands of years, as exemplified by the Silk Road.