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"Foreign managers bring a unique set of experience and skill to the Chinese asset management industry, particularly in areas such as quantitative investment. Having a wider set of local and foreign managers managing different strategies in China increases the choice available to investors and, most importantly, it allows investors to diversify their investments," Steel said.

"Filling in a data form by pen? Using a landline telephone? These are common. I dare say that they really need our services for accuracy and efficiency," he said.

"Foreign academics can help enhance China's cooperation and exchanges with top engineers and research institutes worldwide," Zhou Ji, president of the engineering academy, said on Monday.

"Fiscal expansions and monetary contractions strengthen currencies," said Jason Furman, a professor at the Harvard Kennedy School and former chairman of the White House Council of Economic Advisers, adding America's currency has strengthened by an average of more than 7 percent against those of its trading partners since April.

"Further opening up of the financial sector, especially for the yuan bond market, will help promote the internationalization of the Chinese currency," said Tu.