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"China is a very important market for us both in terms of imports and exports, and for foreign direct investment. We also see a lot of opportunities because China is a very large market," said Timothy Kelley, president of the Imperial Valley Economic Development Corp, a partnership of private enterprises and local government that focuses on growing the regional economy.

"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 been one of the six global research and development hubs for L'Oreal Group. Our goal is to innovate in China, for China and to inspire the world," he said.

"By offering visitors the vivid technology exhibition, the WIoT-Park is expected to help popularize the IoT industry to a greater extent.

"China is leading the world in terms of e-commerce market size, growth, penetration and mobile business usage," said Alan Wong, SF Group's vice-president.