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"China is our most important market…it accounts for about 15 percent of the group's overall revenue," said Chua.

"China has gained useful and effective know-how on economic governance and a better understanding of the roles of the government and market in resource allocation. It is time to institutionalize successful past experiences to enrich the country's governance capacity and to ensure high-quality development," Xue said.

"By leading through innovation, GSK CH is able to grasp opportunities and boldly engage in digital marketing and e-commerce to continuously enhance consumer-centricity and be much closer to our consumers through our e-commerce channels, such as Alibaba, JD.com, Yhd.com, and all major online drugstores, and associated activities in the digital space", said Speichert.

"But there is no need to be overanxious about the risks as China has a deposit insurance scheme. By taking measures, such as appointing another bank to temporarily manage the bank which undergoes the mergers and acquisitions process, regulatory authorities will help small and medium-sized banks make a smooth transition of liquidity," he said.

"But our business will move beyond the air conditioning industry, with varieties of smart products to be unveiled in the market," said Dong.