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"China's wealth management industry will embrace a historical transition of business models and a comprehensive restructuring of its ecosystem. The establishment of ABC Wealth Management is an important measure taken by the Agricultural Bank of China to carry out supply-side structural reform in the financial sector, further implement new regulations on the asset management industry, push for high-quality development of the real economy, and actively tackle changes in the wealth management industry," said Zhou Mubing, chairman of Agricultural Bank of China, the country's third largest commercial lender by assets.

"China-Europe cooperation is crucial and important for reducing uncertainties in the current international situation and boosting the confidence of the global community," said Ruan Zongze, executive vice-president of the China Institute of International Studies.

"Companies are seeing their gap widening in brand recognition and sales. Some are struggling and on the verge of bankruptcy," Chen said at a press conference last week in Beijing.

"Constructive cooperation will enhance both of us and even enrich the world," he said. "Neither of us will have to give up anything it holds dear."

"Continuous progress is being made in mergers and acquisitions among SOEs, involving not only the fusing of management but also resources and corporate cultures," Peng said.