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"China has always encouraged overseas investment, but more needs to be done to ensure it occurs in a more rational manner," said Pan Gongsheng, head of the State Administration of Foreign Exchange.

"By officially introducing the world's payments giants such as PayPal to China, the People's Bank of China is hoping that domestic payment service providers will raise compliance awareness and enhance capabilities to ensure their operations fully comply with regulations through greater competition with their international counterparts. It may be more effective than simply relying on regulators and law enforcement agencies to fight against payments market irregularities," Zhao explained.

"Carriers must connect as many small cities as possible to their hub airports to remain competitive. The sustainable growth of regional aviation is the core competitiveness of the Chinese airline industry," said Li Guijin, a professor at the Civil Aviation Management Institute of China in Beijing.

"China is increasingly amongst the leaders in global innovation and branding," WIPO Director General Francis Gurry said.

"China is paying great attention to the development of this technology. Our principle is to encourage trials, allow failures, ensure safety and oppose monopolies," he said.