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As China and other countries have found, it is difficult to negotiate free trade deals with the EU. Its procedures are bureaucratic and its outlook is protectionist, but in addition, everything has to be tailored to suit the diverse interests of its 28 member states.

Around 300 companies will participate in the exhibition, and 50 percent of the guest speakers are from the overseas.

Approximately 80.5 percent of them earned more than 10 percent of their revenue from online sales last year, and 84.2 percent of the Chinese mainland SMEs earned more than 10 percent of their revenue from digital payment technologies in 2017, according to the survey. The two ratios in the mainland are the highest among the eight interviewed Asia-Pacific countries and regions.

As China opens the door to its capital market wider to attract foreign capital, Chinese companies are also sensing greater freedom to go abroad and raise funds from overseas investors.

Around 35.6 percent of college graduates who chose to work in one of the top 10 second-tier cities such as Hangzhou, Chengdu and Wuhan, were from other regions in 2017, up 3.6 percentage points from the previous year, the report said.