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As the newly launched Hubei FTZ consists of three areas in Wuhan, Xiangyang and Yichang, the Wuhan-based 70-sq-km area is the core of the whole FTZ, while the Wuhan area's core lies in the Donghu zone, according to Hu Lishan, Party chief of the Donghu zone.

As we speak, China's manufacturing sector is basically open. It is gradually lifting restrictions on access to the modern services sector. And it is opening up the financial sector with accelerated pace and at a higher level. Going forward, China will continue to quicken its steps to increase market access for foreign investment. Take for example foreign ownership caps in joint venture firms in sectors such as securities, future and life insurance. China has brought forward the deadline for lifting the caps from 2021 to 2020. At the same time, China has also cut short the 2019 edition of the negative list on foreign investment, reducing the 48 items on the list to 40.

As the Chinese economy continues to recover from the damages caused by the COVID-19 pandemic, the country has moved forward in pushing further opening of its financial services industry.

As tattoos become increasingly common, it is also leading to a number of awkward encounters, according to Zhuo.

As such, Flament said cooperation with Chinese companies and institutions is crucial as they are advised to apply for tests at the testing bases in China so that there will be more global agreements reached.