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"China has made enhanced efforts to optimize the business environment, which will facilitate market vitality and help with highquality economic growth," Liu said.

"But their demand for IP protection has always been growing with their foreign business expanding," he said. "So now, different sides, including government officials, company leaders and IP lawyers, can exchange their views and know more about each other's real situations, which is quite significant."

"China is of strategic importance to Standard Chartered. We are honored to be the first international bank to be granted this license," said Bill Winters, group chief executive of Standard Chartered."China is already being recognized as a major financial market. We are excited to be part of this process as we work closely to support our clients in their custody needs."

"China has a culture and system that has worked well for it for a long time, so it shouldn't be expected to change much; the US has the same; these systems (and those of other countries) will be both competing and cooperating, and how well they do that will be an important influence on global conditions."

"By creating a database to support the planting process, farmers will be able to develop market-tailored agricultural products," said Yi.