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"Commercial banks are suggested to better recognize and assess potential risks. Under a marketoriented interest rate system, they need to set prices of financial products based on different risk levels," said Xu.

"China will become increasingly open, transparent and predictable to foreign investment, and its overall trade investment will be better and better," Li said.

"Chinese consumers have become more savvy and shrewd, and gone are the days when the distributors banked on the lack of knowledge of the buyers and made huge money," said Zhu Feng, general manager of Banniere, a Chongqing-based wine importer and exporter.

"China's rapid growth to become the top filer of international patent applications via WIPO underlines a long-term shift in the locus of innovation towards the East, with Asia-based applicants now accounting for more than half of all PCT applications," said Gurry, in a video broadcast on the results of WIPO in 2019, and program highlights and challenges for 2020, including the COVID-19 pandemic.

"Chinese goods are good and cheap, and many residents from Russia's Far East region often come to Hunchun for shopping," said Svetlana, a Russian tourist. Buying New Year's gifts was a big part of her trip, she said, as she showed off shoes for her husband, perfume for herself and toys for her children.