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"Compared with banks, small nonbank financial service providers usually have better understanding of the risks associated with micro and small market entities and are more aware of their real needs," said Bei Duoguang, president of the Chinese Academy of Financial Inclusion at Renmin University of China.

"Chinese people once transported many commodities like tea to India through the Ancient Tea Horse Road (a trade link in Southwest China, extending to South Asia). The history of trade may partly explain our similarities," he said.

"Chinese brands have taken a giant and rapid leap in growth, in technology, in product design," said Alvarez.

"Chinese culture is multifaceted. We focus on each aspect every year. For example, in 2014, our theme was the city, and its people and culture. In 2015, we fixed our eyes on the Chinese devotion to their country and for a better life. In 2016, it was about ethnic charms. The green ecological culture in 2018 piqued our interest. In the first few years, the project could only attract a small number of foreign talents, and most of them were filming in big cities such as Beijing. By now, their works almost cover the country," Huang says.

"Consumers nowadays have become increasingly sophisticated and therefore look for value before paying a premium price," Li said.