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"Culture is changing," he continued. "But we have to find how to interpret the meaning of culture in the context of the 21st century… We need to better translate our own cultures and have them better understood and received by others."

"Creating a business environment with more respect and protection for intellectual property is going to be very important. We can engage much more, with a higher safety level when intellectual property is better respected here," said Christiansen.

"Currently, there are 144 comprehensive bonded zones," said Chen Zhenchong, a leading official in charge of the customs body, adding the zones are of the highest level of openness, with the most favorable policies, complete functions and simplified procedures in China.

"China's young luxury consumers are more interested in aspiration than heritage, making it imperative for brands to modernize their stories and deliver them through digital channels," said Luan Lan, partner and leader of McKinsey's apparel, fashion, and luxury group in China.

"Construction of Xiongan New Area will combine both Chinese and Western features, focusing on traditional Chinese style," he said. "We will use ancient and modern Chinese elements to create a city landscape that meets or exceeds international standards."