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"China, which started recovering earlier, is projected to grow strongly, accounting for over one-third of world economic growth in 2021," said Laurence Boone, chief economist at the Organization for Economic Cooperation and Development, at the release of the organization's Economic Outlook earlier this month.

"China was interesting to me because it was so different from what was happening in the Soviet Bloc. That's when the creation of the economic zone happened in Guangdong. That's what got me started on China," Taylor said.

"Citi China's FMDB license is a piece of welcoming news for many of our QFII and RQFII clients," said Harry Peng, managing director and head of prime, futures and securities services for Citi China. "We are in a unique position – as the only American bank who can offer a complete solution to international investors to invest into China, whether it's equity or fixed income, directly (QFII, RQFII and CIBM direct scheme) or via Hong Kong (Stock Connect and Bond Connect), end to end, from sales, trading, research to custody, clearing and settlement. We have the full licenses and capabilities in China on the ground."

"Compared with the approval system currently adopted by the A-share market, the registration system will rely more on the market to judge the value of listed firms. This means related provisions must be revised to ensure investors are well-informed," Wang said.

"Consumers in Shanghai are willing to try out new flavors, especially those from European countries," Nong said.