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"But make no mistake, sir, while these factors do exert a negative force on the challenges we face, at the core, this issue is about leadership, especially command," Richardson said.

"By the end of this year we will be half-way through this current term of government."

"By sacrificing the increase of fiscal revenue, we gain enterprise performance and market vitality," Xiao said. "This is the core of implementing policies of cutting taxes and fees."

"China is coming to a turning point of growth," Li said.

"By officially introducing the world's payments giants such as PayPal to China, the People's Bank of China is hoping that domestic payment service providers will raise compliance awareness and enhance capabilities to ensure their operations fully comply with regulations through greater competition with their international counterparts. It may be more effective than simply relying on regulators and law enforcement agencies to fight against payments market irregularities," Zhao explained.