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"Half of them will be brand-new ones and some will help GM go into new sub-segments and thus create opportunities of growth," said Tsien.

"Hanfu, traditional Han Chinese clothing, was not that familiar to modern society years ago, and it used to be embarrassing to wear hanfu on public occasions because people would be scornful.

"Having access to specially designed, comprehensive databases and analytics that are specific to the Chinese market is crucial for the survival of foreign institutions. Refinitiv is well positioned in providing such data given its rich reserve of China market data and experience in serving global clients," Chen said.

"For example, it is powerful enough to change the cosmetics industry and force them to make more water-based makeup products instead of oil-based ones for young ladies. The young females love to take selfies in the morning when their makeup is fresh and oil-based cosmetics would ruin a perfect selfie by making them look oily."

"Globalization presents incredible opportunities and maximizes value on global economy. Technology transfer is a huge opportunity and we can exploit sectors like agriculture, infrastructure and women entrepreneurs to fight inequality," Senbet told Xinhua.