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As China aims to build a number of world-class, role-model SOEs that lead the way in high-quality development, it would be economically beneficial for more companies of this kind to participate in mixed-ownership reform to bring private capital into SOEs, said Lin Wei, a Global Strategy Group partner at KPMG China.

As China is further opening up its market to foreign investors by lifting entry barriers, business leaders said they hope the expanded pilot program will further promote cross-border investment in transportation, innovation, education, healthcare, finance and professional services.

Ary S, a Russian public relations manager in Beijing, said: "Tai chi is typical 'Eastern stuff ', and I'd like to learn it. I see foreign media love to write about Chinese CEOs performing tai chi with their employees."

Are relations guided by pragmatism or has mutual political trust increased?

As China finally introduced the policy of reform and opening-up and abolished the coupon system, more Chinese had the financial leeway to buy goods as they wished on the back of an increasingly open market. Since the 1990s, cash has dominated the payment scene for a substantial span of time.