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"Foreign firms tend to have extensive international experience and they are strong in business areas such as principal securities trading (where the securities firms use their own capital for capital market investments to realize higher profits), capital and fixed-income, foreign exchange and commodities markets. Their presence will bring more competition and force local securities firms to accelerate development, which will help energize the Chinese market, and boost the regulator's goal to further open the financial industry," Zhang said.

"From our observations and communication with would-be parents, we found that males, who are often reluctant to quit smoking, express stronger desire to cut down on tobacco use for the sake of their children," said Yang Ying, who was involved in the study as an associate research fellow at the institute.

"Having a website, WeChat account and mini-apps does not mean you're digitalized. Instead, they should be helpful for customers," she said.

"Financial inclusion is a fundamental building block of inclusive growth and development," it added.

"From the signed investment entities of central enterprises, state-owned enterprises, and private enterprises, the number of private enterprises hit 81, which accounted the 75 percent of all projects," Ngapo Jinyon said.