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"China's various licensed financial institutions had total assets under management of 100 trillion yuan at year-end 2017. The regulation prohibits unlicensed entities such as internet platforms from originating and distributing asset-management products," Zhu said.

"China understands that things have changed in the world, that the world has become multipolar. In such a world, China sets an example to other countries about what to do if we all want the world to be a safe place for people to live in and to improve the quality of life," he added.

"China's growing middle-class has more money to spend, particularly on high-end, nutritional dairy items," said Song Liang, a senior independent industry analyst.

"Compared with Shanghai and Shenzhen, Beijing started earlier and developed faster," Nie said. "Beijing has been building innovation platforms and holding innovation contests to attract big companies and talent to participate, which have significantly raised investment efficiency."

"China should control the overall pace and order of the opening-up of its financial sector, comprehensively assess the likely impact of foreign banks' access to the China market, and make differentiated regulations according to the different types of banks and their modes of entering the China market," Zeng said.