"Technology exports will effectively save five to eight years' time of our local partners in developing new technologies and conducting feasibility tests."

Jia Hang, senior director of international business at Ant Financial Services Group on April 17. He says the company will extend its indigenous mobile payment technologies to economies along the Belt and Road Initiative and unveil a number of Alipay-like services this year.

"China is our second-largest market, after the United States. Danfoss has benefited from the increasing demand in infrastructure, food supply, energy efficiency and climate-friendly solutions as the country's urbanization and green transformation goes on."

Kjeld Stark, president of Danfoss China. Denmark's largest industrial group reported its strongest growth in six years in 2016. Danfoss China generated 4.25 billion yuan ($617 million; 575.9 million euros; ￡481.4 million) in sales revenue last year, up 10 percent from 2015, outperforming the group's other regions. Danfoss worldwide registered 39 billion yuan revenue in 2016, up 3 percent year-on-year.

"Chinese consumers want to try something different and feel like they are sophisticated and part of the global elite. That's what Starbucks gives them. That's what Western brands need to tap into."

Summer Chen, research analyst at Mintel.

(China Daily European Weekly 04/21/2017 page24)