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"China would not give up an inch of its territory," he said.

"Compared with the manufacturing sector, the financial and service sectors of our country are still lagging behind, which will become an increasingly bigger obstacle to China's upgrading of its industrial structure and sustainable economic growth," Li said. "We must have a well-developed financial market in terms of depth and breadth."

"Currently, the overseas revenue accounted for the education subsidiary's 70 percent of total revenue. In the overseas market, the payment willingness is much higher than that in the domestic market and there are merely restrictions on how long students can use electronic products," Xiong noted.

"China's experience provides valuable lessons to authorities in other countries which are fashioning their own pathways toward sustainable and long-term financial inclusion," it said.

"Currently, the womenswear retail market in China is worth more than 2 trillion yuan (8.5 billion). I estimate that the women's clothes sharing market will exceed over 100 billion yuan in the country in the near future. Wearing much-needed clothing will always top the agenda of almost every woman. So it is truly a business opportunity."