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"By making this adjustment, the regulator hopes that banks will fully expose their non-performing loans and truly disclose their risk situation with more accurate capital adequacy ratios and coverage ratios of allowance for loan impairment losses to NPLs. It will be favorable for them to write off and resolve bad assets," said Xiong Qiyue, a research fellow at the Institute of International Finance at Bank of China Ltd.

"China has just as much innovation as anywhere else in the world - we've seen some extraordinary businesses come out of there," said the Duke. "The three that are here today are outstanding."

"Cherries, grapes, blueberries and avocados are already open. We are waiting for pears. After pears, we will have citrus fruit, namely oranges, clementines and mandarins," he said.

"By teaming up with Tencent to promote data traffic packages, we have added 20 million subscribers within six months," Wang said. "Internet partners can complement our shortcomings in retailing channels."

"China has arrived at a turning point in the 'new era' where citizens not only live in a physical world but have a digital life. Everyone can be a 'digital citizen'," said Wang Jing, CEO of Newland Hi-Tech Group Co Ltd, a Chinese wireless telecommunication technology company that developed the Fuzhou D-ID system.